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SEC approves PCAOB's Auditing Standard No. 1

  • PCAOB (US Public Company Accounting Oversight Board) (dark gray) Image

19 May 2004

The US Securities and Exchange Commission has approved Public Company Accounting Oversight Board (PCAOB) Auditing Standard No.

1, "References in Auditors' Reports to the Standards of the Public Company Accounting Oversight Board". AS 1 requires that auditors' reports on engagements subject to PCAOB oversight, including audits of foreign SEC registrants, state that the engagement was performed in accordance with the standards of the PCAOB. This replaces previously required references to generally accepted auditing standards. A PCAOB Announcement states that AS 1 is effective 24 May 2004. Click to Download AS 1 (PDF 73k).

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