The PCAOB recently proposed new standards for quality control (QC) systems and opened the 394-page document for public comment.
The proposed QC standards would replace AICPA standards that the PCAOB adopted on an interim basis in 2003, shortly after the board’s formation.
According to the proposal, the proposed QC standards attempt to build on the basic structure of AICPA standards used by firms in the U.S. and across the world.
The PCAOB will accept comments through Feb. 1, 2023. Learn more.