The Auditing Standards Board (ASB) Chair and AICPA Chief Auditor will discuss recently issued standards for audits and attestation engagements. The discussion will also include the ASB's active agendas including ongoing efforts to modernize auditing and attestation standards, enhance ASB outreach to stakeholders regarding proposed standards and post-implementation reviews of issued standards. This session will feature a discussion of the current status of the ASB's projects to: Revise the quality control standards, revise the risk assessment standard, make narrow revisions to auditor communications regarding NOCLAR, and converge efforts on group audits.
Apply new auditing, attestation and quality management standards in their engagements.
Identify current ASB projects to keep attendees apprised of their status and facilitate their participation in the stakeholder feedback process.