Stay Connected: Twitter Facebook Flickr RSS E-Mail
Skip navigation links
About the PCAOB
Rules of the Board
Registration & Reporting
Standards
Inspections
Enforcement
International
Research & Analysis
News & Events
Skip navigation links
Auditing
Ethics & Independence
Quality Control
Attestation
Superseded
Guidance
Current Activities
SAG

Click Plus Sign Icon to expand menu items
Click Minus Sign Icon to collapse menu items

[The following note became effective February 6, 2006, and was amended as a result of the adoption of Auditing Standard No. 5, effective for audits of fiscal years ending on or after November 15, 2007. See PCAOB Release 2007-005A.

Return to the current version.]
 

Note:   The second sentence of the paragraph above contemplates that the auditor's previous engagement under Auditing Standard No. 2 resulted in rendering an opinion.  If an auditor previously engaged to perform an audit of internal control over financial reporting in accordance with Auditing Standard No. 2 has not yet rendered an opinion on the effectiveness of the company's internal control over financial reporting as of the company's most recent year-end or more recently, then that auditor should follow the requirements for a successor auditor in paragraphs 26a-b and 27.  Additionally, if an auditor has previously performed an audit of internal control over financial reporting at the company and is now a successor auditor (because another auditor has subsequently performed an audit of internal control over financial reporting at the company in intervening years), the auditor should follow the requirements in paragraphs 26 and 27 for a successor auditor.