Other Auditors Project Completed
In June 2022, the Board adopted amendments to its auditing standards to strengthen requirements that apply to audits involving multiple audit firms, thus completing a project initiated in 2016. With the SEC’s August 2022 approval of the Board’s action, the Other Auditors project has been removed from the standard-setting agenda.
Three New Projects Added
The PCAOB further expanded its standard-setting and research agendas with three new projects.
Two of the new projects have been added to the short-term standard-setting agenda: Interim Standards – AS 1000 and Amendments Related to Certain Aspects of Designing and Performing Audit Procedures That Involve Technology-Assisted Data Analysis. The amendments related to certain aspects of the designing and performing technology-assisted data analysis project resulted from the successfully completed research project on Audit Evidence, which has now been removed.
One project has been added to the PCAOB’s research agenda: Firm and Engagement Performance Metrics.
Three Project Timelines Updated
The anticipated timing for the Confirmations project has moved up to 2022 from 2023, with the Board expected to issue a re-proposal before year’s end.
For two projects — Noncompliance with Laws and Regulations and Attestation Standards Update — the anticipated timing for action is now 2023. Board action on these projects continues to be expected in the next 12 months.
Review the standard-setting and research agendas on the PCAOB's website.