Wednesday 14 August 2013

USA: PCAOB proposes new auditing standards to enhance the auditor's report

The Public Company Accounting Oversight Board has proposed two new auditing standards in order to improve usefulness of the auditor's report: see here (pdf). An overview of the new standards is available here. The PCAOB chairman, James R. Doty, described the publication of the standards as a watershed moment for auditing in the United States: see here. The remarks of his fellow board members are available here.

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