Proposed and Adopted Standards and Related Rules
Proposed
Proposed Auditing Standard — Engagement Quality Review
The Board is reproposing an auditing standard, Engagement Quality Review, that would supersede its interim concurring partner review requirement. The proposed standard would require an engagement quality review for audits and reviews of interim financial information performed in accordance with the standards of the PCAOB.
Proposed Auditing Standards — The Auditor's Assessment of and Response to Risk
The Board is proposing a suite of seven new auditing standards related to the auditor's assessment of and response to risk, and related conforming amendments. The proposed standards would supersede the Board's interim auditing standards related to audit risk and materiality, audit planning and supervision, consideration of internal control in an audit of financial statements, audit evidence, and performing tests of accounts and disclosures before year-end. The proposed standards would apply to all audits performed in accordance with the standards of the PCAOB.
Concept Release
Concept Release on Possible Revisions to the PCAOB's Standard on Audit Confirmations
The Board seeks public comment on the potential direction of a standards-setting project that could result in an amendment to, or a new auditing standard on, the Board's current standard on audit confirmations.
Adopted
Adopted standards and rules are not final until approved by the SEC.
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