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US audit watchdog to speed agenda on third-party confirmations, auditor independence, technology-assisted data analysis

( October 12, 2022, 19:18 GMT | Official Statement) -- MLex Summary: The Public Company Accounting Oversight Board is speeding up its rule-making and research agenda on a host of topics. The watchdog plans to propose changes this year to the confirmation process for obtaining and evaluating responses by a third party, such as a bank, to an auditor’s request for information. PCAOB has added to the short-term agenda modernization of interim 2003 standards on five standards, including auditor independence and independent auditor responsibilities. Also added to the short-term agenda is consideration of rules affecting the design and performance of audits using technology-assisted data analysis.See statement below....

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