PCAOB Audits - Planning and Risk Assessment Stage  

Familiarize yourself with the PCAOB audit requirements. Understand the higher communication requirements with the company's audit committee regarding audit strategy, planning and fraud. Understand the requirements regarding fraud detection and responses to fraud risk factors. Review risk based auditing procedures.

On March 31, 2015, the PCAOB approved the reorganization of its auditing standards to help users navigate the standards more easily. To implement this reorganization, the PCAOB adopted amendments to its auditing standards and rules and also rescinded certain auditing standards that are no longer necessary under the reorganization. These original amendments did not impose new requirements on auditors or change the substance of the requirements for performing and reporting on audits under PCAOB standards. Specifically, the amendments to implement the reorganization included updates to the section numbers, cross references, and titles of certain standards. Other related amendments include, among others, removing standards that are no longer necessary, replacing references to generally accepted auditing standards, and updating certain PCAOB rules to reflect the reorganized auditing standards. Since 2015, the PCAOB standard-setting projects continue to ensure high-quality audits of public companies and registered broker-dealers.

This course is most beneficial to professionals new to PCAOB audits who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to this subject.