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PCAOB gets tough with new audit quality review standard
Author(s) -
Bettinghaus Bruce
Publication year - 2010
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.20591
Subject(s) - audit , accounting , listed company , business , quality audit , quality (philosophy) , philosophy , epistemology
The author discusses the requirements of the recently proposed Public Company Accounting Oversight Board (PCAOB) auditing standard (AS 7) requiring the review and approval of a second audit partner of each audit. The PCAOB intended to get tough—the standard is designed to be rigorous. Unfortunately, the additional costs of implementing it might exceed any benefit. © 2010 Wiley Periodicals, Inc.
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