The Public Company Accounting Oversight Board
(PCAOB) is seeking feedback on its proposed audit standard on

The PCAOB said the new standard would
strengthen the requirements and replace the current audit
confirmation standard AU section 330.

“The proposed new standard would offer more
explicitly incorporate consideration of the risk of material
misstatement due to error or fraud into the selection, design, and
performance of confirmation procedures,” PCAOB acting chairman
Daniel Goelzer said.

If the PCAOB does adopt the auditing standard
it will still be subject to approval from the US Securities and
Exchange Commission.

The deadline for public comment is 13
September 2010.


How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Related articles

PCAOB consider audit standard on confirmation