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Auditors and risk: Eight new standards
Author(s) -
Bettinghaus Bruce,
Lindquist Stanton C.
Publication year - 2011
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.20687
Subject(s) - accounting , generally accepted auditing standards , audit , interim , commission , business , auditor's report , financial accounting , political science , accounting information system , finance , law
On December 23, 2010, the Securities and Exchange Commission approved eight new Auditing Standards of the Public Company Accounting Oversight Board. These standards all focus on the auditor's assessment of and responses to risk in an audit. The authors of this article explain that while the eight standards are primarily fresh codification of existing interim standards, they make a few substantive changes as well. However, not everyone believes the new standards are an improvement. © 2011 Wiley Periodicals, Inc.