Auditing Standards Board
exposure drafts, including recently issued proposed statements on defining professional requirements in statements on auditing standards (SASs) and in statements on standards for attestation engagements (SSAEs), as well as a proposed SAS on audit documentation, www.
103 of the act empowers the board to establish or adopt, by rule, "auditing, quality control, ethics, independence and other standards relating to the preparation of audit reports for issuers' The board is required to "cooperate on an ongoing basis" with the Auditing Standards Board
and other standard setters and "to the extent that it determines appropriate" adopt standards proposed by those groups.
It was created by the Audit Issues Task Force of the Auditing Standards Board
in response to the increased risk of misstatement inherent with these investments that do not have a readily determinable market value.
The AICPA's Auditing Standards Board
recently issued three exposure drafts.
Interpretive publications are issued under the authority of the Auditing Standards Board
The Auditing Standards Board
, feeling the pressure from disgruntled investors, took a jab at the problem of fraud in 1996, with their Statement on Audit Standards No.
Due to the increased risk of misstatement inherent with these investments, the Audit Issues Task Force of the Auditing Standards Board
established the Alternative Investments Task Force.
To better serve both members and the public, the Institute made available on its Web site free of charge the standards and interpretations promulgated by the Auditing Standards Board
The panel recommends significantly strengthening the POB's role in the auditing profession's governance, including that the POB oversee the Auditing Standards Board
, Independence Standards Board and SEC Practice Section Executive Committee.