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PCAOB Proposes New Standard for Audit Confirmations
By Jonathan Zuckerman, CPA, Partner and Ioanna Vavasis, CPA, Senior Manager
The Public Company Accounting Oversight Board (PCAOB) recently issued for public comment a proposed new auditing standard, The Auditor’s Use of Confirmation, to replace in its entirety existing AS 2310, The Confirmation Process. The proposed standard is designed to improve the quality of audits and to reflect changes in the means of communication and business practice since the standard was originally issued.
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