PCAOB to Consider Adopting an Auditing Standard on Related Parties, Amendments Regarding Significant Unusual Transactions, and Other Amendments

The Public Company Accounting Oversight Board has scheduled an open meeting for 10:30 a.m. on Tuesday, June 10, to consider adopting an auditing standard on related parties, amendments to certain PCAOB auditing standards regarding significant unusual transactions, and other amendments to PCAOB auditing standards.

The standard and amendments would revise auditor performance requirements in areas that could pose significant risks of material misstatement in company financial statements.

The PCAOB initially proposed the standard and amendments on February 28, 2012, and reproposed them on May 7, 2013. Additional information is available on the PCAOB website under Rulemaking Docket No. 038.

The meeting is open to the public and will take place in the Board's meeting room at 1666 K St. NW, Washington, DC. A webcast via a link on the PCAOB website will be made available the day of the meeting. The meeting also will be available via podcast later in the day.