PCAOB adopts auditing standard, delays non-U.S. firm registration.

• Position: PCAOB News; Public Company Accounting Oversight Board - Brief Article

The PCAOB has approved an auditing standard for internal control audits and proposed amendments to existing interim auditing standards.

The auditing standard, An Audit of Internal Control Over Financial Reporting Performed in Conjunction with an Audit of Financial Statements, addresses the work required to audit internal control over financial reporting and the relationship of that audit to the audit of the financial statement.

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The...