PCAOB Issues Proposed Standard on the Auditor’s Use of Confirmation

The PCAOB has issued for public comment a proposed standard The Auditor’s Use of Confirmation, and Other Proposed Amendments to PCAOB Standards, which would replace an interim standard on an auditor’s use of confirmation.

The proposal would, among other things, “strengthen and modernize the requirements for the confirmation process” and “better integrate the PCAOB’s confirmation standard with its risk assessment standards.”

Comments on the proposed rule are due by February 20, 2023. For more information, see the press release on the PCAOB’s Web site.