Auditing internal control in small public companies
24 Oct 2007
The United States Public Company Accounting Oversight Board has invited comment on proposed staff guidance on auditing internal control over financial reporting in smaller public companies.
The release is titled Preliminary Staff Views - An Audit of Internal Control That Is Integrated with An Audit of Financial Statements: Guidance for Auditors of Smaller Public Companies. The guidance explains how auditors can apply the PCAOB's internal control auditing standard Auditing Standard No. 5 An Audit of Internal Control Over Financial Reporting That Is Integrated with An Audit of Financial Statements to audits of smaller, less complex public companies. Comments are requested by 17 December 2007. Click for:
- Proposed Staff Guidance on Applying AS 5 by SMEs (PDF 177k)
- Press Release (PDF 59k)
- PCAOB Auditing Standard No. 5 (PDF 73k)
