PCAOB to Scrap AS2, Start Over

http://www.cfo.com/article.cfm/8378237?f=alerts

PCAOB chairman Mark Olson previously said a proposed revision, which could make it easier and cheaper for smaller companies to comply with Section 404 of the Sarbanes-Oxley Act, could be issued for public comment as early as the second week in December.

１２月１９日に話し合って、それが１２月の第二週にはできるんかい？計算が合わないぞ。。。

The PCAOB also said this new standard will:

• More clearly focus auditors on identifying control weaknesses before they result in material misstatements in financial statements.

• Require auditors to use a top-down approach that begins with the financial statements and company-level controls, and identify for further testing only those controls that are important to the effective functioning of a company's internal control over financial reporting.

• Stress the importance of a company’s control environment, and how it can affect the risk of financial reporting fraud or other material failure.

• Emphasize higher-risk stages of financial statement preparation, such as the period-end close process.

• Clarify that an internal control audit is limited to an evaluation of whether, in the auditor’s opinion, the company’s internal controls are effective, and say that the audit does not include an opinion on the adequacy of management’s process to reach its conclusion.

• Permit auditors to use experience gained in previous years’ audits, rather than start from scratch each year.

• Be shorter, easier to understand, and more clearly scalable.

トップダウンアプローチの採用を促すようにするとありますが、それは２００５年の５月や１１月にも、同じことを言ってなかったっけ。。。

あと気になったのは、

Clarify that an internal control audit is limited to an evaluation of whether, in the auditor’s opinion, the company’s internal controls are effective, and say that the audit does not include an opinion on the adequacy of management’s process to reach its conclusion.

これが採用されたら、どの程度監査費用が削減されるのかな。。。

取りあえずは１２月１９日の会議の議事録が発表されるのを待ちましょう♪