International Auditing Standards in the United States, 2nd Edition

CHAPTER 13

Recent Developments

This chapter focuses on relevant changes in the auditing standards of the Public Company Accounting Oversight Board (PCAOB) and the International Auditing Assurance Standards Board (IAASB) since the first edition of this book came out in 2015.

The PCAOB revised auditor reporting standards since 2015 that were not discussed in the prior edition. The equivalent IAASB standards came into effect at roughly the same time. This chapter addresses changes in the areas of:

• The auditor’s report
• Documentation of audit procedures
• Going concern related audit reports
• Internal controls over financial reports
• Engagement quality control
• Auditing accounting estimates

The Auditor’s Report

The PCAOB recently adopted different numbers ...