SEC Approves PCAOB Standard on Requirements Related to the Lead Auditor’s Use of Other Auditors

The SEC has approved PCAOB Release No. 2022-002, Planning and Supervision of Audits Involving Other Auditors and Dividing Responsibility for the Audit With Another Accounting Firm. The amendments in the release are intended to strengthen the requirements and responsibilities that apply to auditors who plan and perform audits that involve other accounting firms and individual accountants.

For more information, see the statement by SEC Chair Gary Gensler on the SEC’s Web site.