The Public Company Accounting Oversight Board has released for public comment a staff consultant paper on standard-setting related to auditing accounting estimates and fair value measurements.

The board’s inspection staff continues to identify numerous audit deficiencies in a variety of types of estimates across audit firms of different sizes. The PCAOB Office of the Chief Auditor is seeking comment on current audit practice, the possible need for changes to board standards, and possible alternatives related to auditing accounting estimates and fair value measurements.

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