On May 16, the Public Company Accounting Oversight Board (PCAOB) announced that on May 24, it will vote on a final standard on auditing internal control over financial reporting, as well as a related independence rule and conforming amendments to the PCAOB’s auditing standards. If adopted, the new standard would supersede the PCAOB’s existing auditing standard, Auditing Standard No. 2, “An Audit of Internal Control over Financial Reporting Performed in Conjunction with an Audit of Financial Statements.”
The PCAOB open meeting is scheduled for 9:30 a.m. and will be held in the PCAOB’s open meeting room at 1666 K Street, N.W., Washington, D.C. The meeting will be open to the public and will be webcast via a link on the PCAOB’s web site (www.pcaobus.org) that will be made available on the day of the meeting. The open meeting also will be available via podcast later in the day.