Report: Auditing Standard No. 2.

• Position: PCAOB News

The PCAOB has issued a report on Auditing Standard No. 2, An Audit of Internal Control Over Financial Reporting Performed in Conjunction with an Audit of Financial Statements, noting that firms and issuers faced "enormous challenges," including pressures imposed by the standard's mandated timeframe. The report identifies ways auditors can make their...