PCAOB Standard-Setting and Research Agendas Updated

The Public Company Accounting Oversight Board’s (“PCAOB”) Office of the Chief Auditor (“OCA”) has updated its standard-setting agenda. Revised as of June 30, the periodic update reflects the PCAOB’s standard-setting and research agendas, and includes the OCA’s standard-setting agenda, scheduled milestones, and recent developments including the following:
- Auditor’s Reporting Model (adopted in June by PCAOB and awaiting the Securities and Exchange Commission’s approval)
- Auditing Accounting Estimates, Including Fair Value Measurements (exposure draft comment period ends Wednesday, August 30)
- The Auditor’s Use of the Work of Specialists (exposure draft comment period ends Wednesday, August 30)
- Supervision of Audits Involving Other Auditors (supplemental request for comment could be issued later this year)
- Going concern
Regarding its research project agenda, the PCAOB is working on the following projects:
- Quality control standards
- Changes in how data and technology are used in audits
- The auditor’s role in other information and non-GAAP measures
- Auditor’s consideration of noncompliance with laws and regulations
Visit the PCAOB website to view the updated standard-setting and research agenda.