Final Auditing and Attestation Standards Published
After receiving approval from the U.S. Securities and Exchange Commission (“SEC”), the Public Company Accounting Oversight Board (“PCAOB”) has posted its final auditing and attestation standards. Updated recently on its website, the standards include:
- Auditing Standard No. 17, Auditing Supplemental Information Accompanying Audited Financial Statements, and associated amendments;
- Attestation Standard No. 1, Examination Engagements Regarding Compliance Reports of Brokers and Dealers;
- Attestation Standard No. 2, Review Engagements Regarding Exemption Reports of Brokers and Dealers, and associated amendments; and
- Amendments conforming to the Dodd-Frank Act; which modify some PCAOB rules to the audits and auditors of broker-dealers listed with the SEC.
Amendments to the PCAOB rules will be effective June 1st. Likewise, amendments to SEC Forms 1, 1-WD, 3 and 4 take effect July 1st, while amendments to SEC Form 2 go into effect April 1st next year.