Pcaob Cracks Whip On Audit Quality Engagements
Compliance Week › Vol. 6 Nbr. 69, October 2009
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Summary
Andy Gabor, a director at audit and consulting fi rm Morgan Franklin, says the new standard likely will sting smaller fi rms more than large fi rms. "Any standard generates more documentation, more checklists to fi ll out by the auditors, and more overall diligence in the audit process," he says. "For the larger fi rms, the burden will be minimal as they have a number of quality control processes in place and can easily adapt to such a standard.
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Pcaob Cracks Whip On Audit Quality Engagements
Regulators are pressuring auditors to do a better job with new measures intended to make auditors more cautious and more skeptical when reviewing clients' fi - nancial statements.
The Public Company Accounting Oversight Board has adopted a new rule that instructs audit fi rms to take a closer look at their audit report...See the full content of this document
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