Improving standards for the auditor's use of specialists' work.

The Public Company Accounting Oversight Board issued for public comment a staff consultation paper that seeks input on potential changes to standards for the auditor's use of the work of specialists, specifically the objectivity and oversight of specialists and the use of their work in audits.

The Auditor's Use of the Work of Specialists discusses the increase in the use and importance of specialists in recent years due, in part, to the increasing complexity of business transactions reported in a company's financial statements. It can be viewed at http://pcaobus.org/Standards/Pages/...