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This 2016 edition of the AICPA’s PCAOB Standards and Related Rules is a two volume set that incorporates both the reorganized PCAOB standards and pre-reorganized standards. The PCAOB reorganized its auditing standards to generally follow the flow of the audit process, which will help users more easily navigate the standards.
Pursuant to PCAOB Release No. 2015-02, Proposed Framework for Reorganization of PCAOB Auditing Standards and Related Amendments to PCAOB Auditing Standards and Rules, dated March 31, 2015, the PCAOB adopted amendments reordering and renumbering existing PCAOB auditing standards in their entirety, without redrafting the auditing standards or making substantive changes to the requirements of the standards. However, certain auditing standards believed to be unnecessary under the reorganization have been rescinded. The amendments were subsequently approved by the SEC on September 17, 2015, and are effective as of December 31, 2016. Auditors may begin to use and reference the reorganized standards prior to December 31, 2016.
This new 2016 edition of the AICPA’s PCAOB Standards and Related Rules is a comprehensive source of PCAOB standards and related guidance, including:
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