PLI Conference Panelists Discuss Auditing and Accounting Developments

Acting PCAOB Chair Daniel Goelzer was among the speakers at the Practising Law Institute’s securities regulation conference who addressed accounting developments of importance to the legal community. Goelzer advised that audit failures did not cause the financial crisis, nor could they have prevented the crisis. He suggested that issuers read the PCAOB’s report on auditing […]

PCAOB Proposes New Standard on Communications With Audit Committees

The PCAOB has proposed a new auditing standard on communications with audit committees which would supersede interim standards AU sec. 380 and AU sec. 310. The proposed standard governs the communications that auditors must have with the audit committees of public company boards of directors. Acting Chair Daniel Goelzer said the proposed standard is intended […]

PCAOB Reproposes Standards on Assessing Risk for Additional Comment

The PCAOB has reproposed for comment seven auditing standards and related amendments on the requirements for assessing risk during an audit. The reproposed standards respond to the comment letters that were submitted on the initial October 21, 2008 proposal. The Board has described these standards as the foundation for future standard setting. The standards cover […]