TheCorporateCounsel.net

Last month, the PCAOB issued a staff request for information and comment on matters related to the application and use of the PCAOB’s interim attestation standards. Input from the public will be used by the PCAOB staff to formulate recommendations for updates to the interim attestation standards.

As I mentioned in the blog back in August, one of the PCAOB’s top priorities is to modernize its standards. The interim attestation standards came from the AICPA and were adopted by the PCAOB in April 2003, and have remained substantially the same since that time. PCAOB attestation standards apply to attest engagements, which generally involve issuing a report on subject matter, or an assertion about subject matter, that is the responsibility of another party. Comments are due October 26, 2022.

– Dave Lynn