In our letter responding to the PCAOB’s request for comments on modernizing its interim attestation standards, we commend the Board’s efforts and considerations in updating these standards, although they are generally used rather infrequently.
If the Board does decide to undertake this modernization project, however, we encourage it to proceed in a manner that aligns with the principles set forth in other sets of attestation standards that are currently being used in practice. As we discuss in greater detail in our letter, multiple sets of standards are currently being applied to particular engagements in a variety of situations, so creating requirements that significantly deviate from the existing requirements issued by other standard setters could cause operational challenges and may not best serve the public interest.
To read our comments in full, download our letter.
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