29 March 2007

PCAOB to consider auditing standard amendment

The PCAOB has scheduled an open meeting at 3 April to consider proposing an auditing standard, Evaluating Consistency of Financial Statements, and related amendments to the Board’s interim standards regarding the auditor’s responsibilities to evaluate and report on matters relating to the consistency of the financial statements.

In addition, the Board will consider proposing amendments to the Board’s interim auditing standards that would remove the hierarchy of generally accepted accounting principles from the auditing standards in light of the proposal by the Financial Accounting Standards Board to place the hierarchy in the accounting standards.

Press release

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