PCAOB Standard-Setting Update as of March 31, 2018

Available on the Public Company Accounting Oversight Board’s (“PCAOB”) website is the organization’s most recent standard-setting agenda. Updated as of March 31, the standard-setting agenda features the statuses of the following current PCAOB projects:

• Auditing Accounting Estimates, Including Fair Value Measurements: Developing a recommendation for action.
• The Auditor’s Use of the Work of Specialists: Developing a recommendation for action.
• Supervision of Audits Involving Other Auditors: Reviewing comments and deciding the next steps.
• Going concern: Outreach, monitoring, and research.

The PCAOB also has projects on its research agenda related to:

• Quality control standards;
• Changes in how data and technology in audits are used;
• The auditor’s role concerning other information and non-GAAP processes;
• Auditor’s consideration of noncompliance with laws and regulations; and
• Auditor communication with audit committees related to independence.

Both agendas can be seen on the PCAOB website.