About Standards and the Standard-Setting Process

About Standards 

The Sarbanes-Oxley Act of 2002, as amended, directs the Board to establish, by rule, auditing and related professional practice standards for registered public accounting firms to follow in the preparation of audit reports for issuers, brokers, and dealers. 

PCAOB Rule 3100 requires registered public accounting firms and their associated persons to comply with all applicable auditing and related professional practice standards. PCAOB Rules 32003300T3400T, and 3500T describe the standards of the Board with which auditors are required to comply. 

In the event of typographical or other technical errors in the standards presented on the Board's website, the rule text that the Board adopted, and the Securities and Exchange Commission ("SEC") approved as presented in the relevant SEC rule release, shall govern.

About the Standard-Setting Process

The PCAOB seeks to establish and maintain high-quality auditing and related professional practice standards for audits of issuers, brokers, and dealers in support of the PCAOB's overall mission of protecting investors and furthering the public interest in the preparation of informative, accurate, and independent audit reports. The PCAOB's Office of the Chief Auditor—working with other PCAOB offices and divisions—assists the Board in establishing and maintaining PCAOB standards. The Board uses a notice-and-comment process, whereby proposed changes to PCAOB standards are issued for public comment. Consideration of changes to PCAOB standards also involves conducting an economic analysis and analyzing potential impacts of changes on audits of emerging growth companies.

After consideration of comments on a proposal, the Board can seek further comment or adopt the changes (with or without revision). After the Board adopts changes to its standards, the changes must be approved by the SEC to become effective.

Further information about the PCAOB standard-setting process can be found on the Standard-Setting Activities page.