US PCAOB priorities for 2009

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

24 Oct 2008

The US Public Company Accounting Oversight Board (PCAOB) held its annual meeting with its Standing Advisory Council on 22-23 October 2008. At the meeting, the PCAOB chairman presented the Board's plans and priorities for 2009.

Click to download the PCAOB Report (PDF 31k).
PCAOB priorities for 2009 include:
  • Completing proposed auditing standards:
  • Projects on new or revised standards on:
    • Fair value measurements and specialists (very high priority, concept release before the end of 2008)
    • Confirmations
    • Related parties
    • Guidance for auditors of smaller companies relating to AS No. 5 (internal control audits)
    • Action plan for review of interim standards (AICPA standards that PCAOB adopted when it was formed)

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.