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PCAOB prepares new rule on outside auditors, reviews EQR standard

Tammy Whitehouse | April 8, 2016

Audit regulators are preparing to issue a proposed new requirement around firms relying on others outside the principal firm to assist with audit work.

The PCAOB has scheduled an open meeting to consider the proposal, where board members typically question staff members about a prepared proposal and then vote to issue it for public comment. The new proposal would address the lead auditor’s responsibilities with respect to those other auditors from outside the principal audit firm who participate in the audit.

The PCAOB has already approved a new standard requiring audit firms to i...

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