The AICPA board recently approved updates to the peer review standards to align with the new quality management standards and make some additional changes. And the PCAOB has issued guidance on critical audit matters and auditor responsibilities regarding illegal acts.
HIGHLIGHTS
- Updates to AICPA peer review standards
- PCAOB audit focus on critical audit matters
- PCAOB spotlight on auditor responsibilities for detecting, evaluating and making communications about illegal acts
PREREQUISITES
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ADVANCE PREPARATION
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