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PCAOB updates its standard-setting agenda

  • PCAOB (US Public Company Accounting Oversight Board) Image

Apr 04, 2014

The PCAOB has published its latest standard-setting agenda, which outlines its standard-setting projects and key milestones.

The agenda describes the status and provides brief descriptions of the following PCAOB projects:

  • The auditor’s reporting model.
  • Audit transparency: identification of the engagement partner and other public accounting firms or persons that are not employed by the auditor but participate in the audit.
  • Related parties.
  • Framework for reorganization of PCAOB auditing standards.
  • Auditors' responsibilities with respect to other accounting firms, individual accountants, and specialists.
  • Going concern.
  • Quality control standards, including assignment and documentation of firm supervisory responsibilities.
  • Auditing accounting estimates, including fair value measurements and related disclosures.
  • Auditor independence, objectivity, and professional skepticism.
  • Confirmation.
  • Subsequent events.

The standard-setting agenda is available on the PCAOB's Web site.

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