The Auditing Standards Board Clarity Project
The AICPA Auditing Standards Board (ASB) has begun the “Clarity Project”―they are rewriting all their standards to make them easier to read, understand and implement.
Major changes are:
- Requirement paragraphs will be separated from the application text, so the auditor can identify the requirements more easily
- Each standard will contain an objective to help the auditor better understand what the standard is meant to accomplish
- All “clarified” standards will carry the same effective date, which will be set far enough in the future to allow firms sufficient time to update their methodologies and training programs
- IAASB issues eight standards, nears end of the Clarity Project
- The International Auditing and Assurance Standards Board (IAASB) moves closer to completing its Clarity Project, recently releasing eight standards – seven clarified International Standards on Auditing (ISAs) and one clarified International...
- ASB to release clarified risk assessment standards for exposure
- The Auditing Standards Board (ASB) recently voted to approve for exposure certain risk assessment standards that have been rewritten as part of its Clarity Project. In the project, the ASB is rewriting all their standards to make them easier to...
- AICPA Clarity Project releases first “clarified” auditing standard
- The Auditing Standards Board (ASB) issued its first statement under the Clarity Project: The Auditor's Communication With Those Charged With Governance (Redrafted) . ASB is undertaking the Clarity Project to rewrite all of their standards to make...
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