This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

PCAOB adopts new auditing standards on risk assessment

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

05 Aug 2010

The Public Company Accounting Oversight Board (PCAOB) today adopted eight auditing standards related to an auditor's assessment of and response to audit risk.

The eight standards are:
  • Auditing Standard 8 (AS No. 8) - Audit Risk
  • Auditing Standard 9 (AS No. 9) - Audit Planning
  • Auditing Standard 10 (AS No. 10) - Supervision of the Audit Engagement
  • Auditing Standard 11 (AS No. 11) - Consideration of Materiality in Planning and Performing an Audit
  • Auditing Standard 12 (AS No. 12) - Identifying and Assessing Risks of Material Misstatement
  • Auditing Standard 13 (AS No. 13) - The Auditor's Responses to the Risks of Material Misstatement
  • Auditing Standard 14 (AS No. 14) - Evaluating Audit Results
  • Auditing Standard 15 (AS No. 15) - Audit Evidence
The standards, if approved by the Securities and Exchange Commission, will become effective for audits of fiscal periods beginning on or after December 15, 2010. Click here for more details and to view this and other news releases on the PCAOB website.

 

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.