The updates reflect the PCAOB’s recent progress and continued drive toward its strategic goal of modernizing the PCAOB’s standards and rules. Since 2022, the Board has completed four standard-setting projects and issued proposals on six additional standard-setting and rulemaking projects.

The Board has approved two projects, namely Quality Control and General Responsibilities of the Auditor in Conducting an Audit (AS 1000), and they are currently awaiting SEC approval. Furthermore, two fresh initiatives have been incorporated into the short-term standard-setting agenda. The first one, Inventory, was shifted from the mid-term agenda, while the second one, Other Reporting, is a newly introduced project. In addition, a new venture focusing on Internal Audit has been added to the mid-term standard-setting agenda. The Attestation Standards Update project has had its timeline revised, with the expected time for action now set for 2025. Lastly, the project on Follow-On Disciplinary Proceedings has been removed from the PCAOB’s rulemaking agenda.

Access the updates on the PCAOB’s website.