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PCAOB Professional Standards & Rulemaking
The PCAOB is required to establish or adopt, or both, auditing, quality control, ethics, independence, and other standards relating to the preparation of audit reports for public companies, in accordance with Section 103 of the Sarbanes-Oxley Act of 2002. All of the PCAOB's standards and rules go through a two-step process:
- First, a proposed standard or rule is adopted by the PCAOB typically after a public comment period.
- Second, the standard or rule is sent to the SEC for approval.
The SEC's approval process also typically involves a public comment period. PCAOB rules do not take effect unless approved by the SEC.
For information about the PCAOB Standards-Setting process, click on the respective link.
The following are links to PCAOB rules, standards, and interpretative guidance:
The PCAOB Standing Advisory Group is a group whose purpose is to advise the PCAOB on the establishment of auditing and related professional practice standards. The SAG is composed of 31 highly qualified persons representing the auditing profession, public companies, investors and others.
CAQ Summaries of PCAOB SAG Meetings
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