More auditing in the news, this time from the AICPA's Auditing Standards Board.
The ASB has released a pair of exposure drafts -- redrafts, actually -- of Statement of Auditing Standards 103 and SAS 114 as part of its Clarity Project, which, according to the AICPA, "aims to make auditing standards easier to read, understand and apply."
The deadline to comment on the drafts is June 30, 2008.
All auditing standards will be redrafted over the next few years as part of the project, which is consistent with the ASB's international convergence strategy.
See full Article.
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