PCAOB Announces Standing Advisory Group Meeting on November 29-30

Topics include professional skepticism, audit quality indicators, and PCAOB research projects

WASHINGTON, Nov. 9, 2017

The Public Company Accounting Oversight Board today announced that it has scheduled a meeting of its Standing Advisory Group in Washington on Wednesday, November 29, and Thursday, November 30.

At the meeting, topics for discussion include professional skepticism, audit quality indicators, PCAOB research projects, and comments received on recent PCAOB proposals.

"The input we receive from SAG members is invaluable to our standard-setting process," said Martin F. Baumann, PCAOB Chief Auditor and Director of Professional Standards.

The meeting will open on Wednesday at 8:30 a.m. with updates on recent PCAOB developments and standard-setting activities. Staff from the Office of the Chief Auditor will lead an in-depth discussion of projects on the PCAOB research agenda.

After lunch, SAG members will discuss audit quality indicators, and the recent rulemakings by the Financial Accounting Standards Board and their effects on audits. SAG members also will hear an update on the recent project activities of the International Auditing and Assurance Standards Board.

The Thursday morning session will begin with a panel discussion of professional skepticism and its importance to audit quality. PCAOB staff also will present for discussion an overview of comments received on three recent standard-setting proposals: auditing accounting estimates, auditor's use of the work of specialists, and supervision of audits involving other auditors.

The meeting is expected to conclude around 12:30 p.m.

The meeting, which is open to the public, will be held at the FHI Conference Center at 1825 Connecticut Ave. NW, Washington, DC. It will be streamed live on the PCAOB website and a recording will be available afterward.

The Standing Advisory Group advises the PCAOB on the development of auditing and related professional practice standards. The SAG includes investors, auditors, public company executives, and others.