May 31, 2023

PCAOB to Consider Auditing Standards Regarding Noncompliance with Laws and Regulations

The PCAOB has announced that, at an open meeting on June 6th at 10:00 am Eastern, the Board will consider issuing for public comment a proposal amending PCAOB auditing standards related to the auditor’s responsibility for noncompliance with laws and regulations, including fraud, in an audit. The PCAOB states: “The proposed amendments are aimed at strengthening auditor requirements to identify, evaluate, and communicate possible or actual noncompliance with laws and regulations, thereby enhancing investor protection.”

– Dave Lynn