The US Public Company Accounting Oversight
Board (PCAOB) is considering adopting auditing standards on
auditors’ risk assessment.

The standards would revise the requirements
for assessing and responding to risk during an audit.

The board is also considering launching a
discussion about a provision of the Sarbanes-Oxley Act that
authorises the PCAOB to impose disciplinary sanctions on registered
public accounting firms that fail to reasonably supervise
associated persons.

The PCAOB has scheduled an open meeting for 5
August to discuss the proposals.