Financial statement preparers are a key stakeholder group to the PCAOB, and our engagement with them remains an important Board priority. In addition to meeting with financial management and internal audit industry groups, we welcome feedback on the PCAOB’s activities from financial professionals at public companies or broker-dealers.

Standards and Rules

The Board establishes and amends auditing, related attestation, ethics and independence, and quality control standards.

Auditing Standards

Attestation Standards

Ethics and Independence Rules

Quality Control Standards

PCAOB Inspections Process

In selecting issuer audits for review, we use both risk-based and random methods of selection. While inspections vary by firm, we may focus on auditor’s risk assessment processes, financial reporting, and audit areas affected by economic trends or pressures, audit areas that present challenges and significant risk, new accounting standards, and areas of recurring audit deficiencies.

PCAOB Inspection Procedures

Basics of Inspections

Recent Updates

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Dec. 21, 2023

A new staff report provides observations from the PCAOB’s target team, a group of inspectors who focus on emerging audit risks and other topics.

Dec. 20, 2023

In a new staff report, the PCAOB’s staff has outlined 2024 inspection priorities, with a focus on driving improvements in audit quality.