PCAOB Issues Proposed Quality Control Standard

The PCAOB has issued for public comment a proposed standard A Firm’s System of Quality Control and Other Proposed Amendments to PCAOB Standards, Rules, and Forms.

The proposal would, among other things, “supersede current PCAOB quality control standards with an integrated, risk-based standard . . . that would apply to all registered public accounting firms.”

Comments on the proposed rule are due by February 1, 2023. For more information, see the press release on the PCAOB’s Web site, as well as statements by PCAOB Chair Erica Williams and Board members Duane DesParte, Christina Ho, Kara Stein, and Anthony Thompson, on the PCAOB’s Web site.