PCAOB Releases Publication on Engagement Acceptance

The PCAOB has released a publication on acceptance of audit engagements as part of its Audit Focus series. The publication discusses the standards that govern an audit firm’s decision of whether to undertake a particular engagement and contains key reminders for a firm to consider in making this decision. It emphasizes that “firms have a responsibility to undertake only those engagements that they can reasonably expect to be completed with professional competence.”

For more information, see the press release on the PCAOB’s Web site.