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PCAOB Adds New Projects to Agenda

S.J. Steinhardt
Published Date:
May 17, 2023

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The Public Company Accounting Oversight Board (PCAOB) has revised its standard-setting agenda, adding two projects slated for short-term action and four new projects aimed at improving rules to protect investors.

The two projects that the PCAOB moved to its agenda for short-term action are Firm and Engagement Performance Metrics, which previously was listed on the PCAOB’s Research agenda, and  Substantive Analytical Procedures. The latter was moved to the short-term list from the mid-term category.

The PCAOB added projects on Use of a Service Organization and Interim Financial Information Reviews to its mid-term list.

The four new rulemakings, which are separate from PCAOB standards, consider how board rules could be enhanced in the areas of firm reporting and transparency, contributory liability, follow-on disciplinary proceedings and registration.

As with standard-setting projects, proposed changes to PCAOB rules from these rulemaking projects will go through a public notice-and-comment process to gather input from investors and other stakeholders.

“The PCAOB is pursuing one of the most ambitious standard-setting agendas in its history, and the updates reflect the solid progress that we are making to carry out that agenda,” PCAOB Chair Erica Y. Williams said in a statement. “Our new rulemakings also show our commitment to making enhancements that will allow the PCAOB to execute our mission to protect investors more effectively and efficiently.”

All of these projects are available on the PCAOB’s Standard-Setting, Research and Rulemaking Projects page.

To learn more about accounting and auditing developments, attend the Queens/Brooklyn Chapter Accounting & Auditing Conference on May 24.


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