Proposed Framework for Reorganization of PCAOB Auditing Standards and Related Amendments to PCAOB Auditing Standards and Rules

The Public Company Accounting Oversight Board ("PCAOB") is proposing a framework for reorganizing the existing interim and PCAOB-issued auditing standards into a topical structure with a single integrated numbering system. The PCAOB is also proposing certain conforming amendments to Rule 3101, Certain Terms Used in Auditing and Related Professional Practice Standards, and Rule 3200T, Interim Auditing Standards.

Certain related amendments to the PCAOB auditing standards are also being proposed, as well as a proposal to rescind certain interim auditing standards which the PCAOB believes are no longer necessary under the proposed reorganization.

Click here to view release in full (links externally to PCAOB website).See also: Statement by James R. Doty, Chairman; Statement by Jay D. Hanson, Board Member; Statement by Lewis H. Ferguson, Board Member; Statement by Jeanette M. Franzel, Board Member; Statement by Steven B. Harris, Board Member.