Article

PCAOB Updates Project Agendas

November 9, 2017

The Public Company Accounting Oversight Board’s (“PCAOB”) Office of the Chief Auditor recently published an update to its standard-setting and research project agenda. The revised agenda includes the Office’s present standard-setting agenda, planned milestones, and important recent developments.

The PCAOB’s standard-setting agenda includes the following projects:

  • Auditor’s Reporting Model: Adopted in June and approved by the Securities and Exchange Commission on October 23rd.
  • Auditing Accounting Estimates, Including Fair Value Measurements: Reviewing comments on exposure draft of the proposed standard.
  • The Auditor’s Use of the Work of Specialists: Reviewing comments on exposure draft of the proposed standard.
  • Supervision of Audits Involving Other Auditors: Supplemental request for comment issued, with comment period ending on Wednesday, November 15.
  • Going concern: Covers PCAOB outreach, monitoring, and research efforts.

The PCAOB’s research agenda includes the following projects:

  • Quality control standards.
  • Changes in how data and technology are used in audits.
  • The auditor’s role concerning other information and non-GAAP measures.
  • Auditor’s consideration of noncompliance with laws and regulations.

The PCAOB standard-setting and research project agenda can be viewed on the PCAOB website.