PCAOB posts project updates

The Public Company Accounting Oversight Board posted updates Tuesday to its projects as it waits for public comments on its strategic priorities, including future standard-setting activity.

In late March, the PCAOB issued a request for comment on its 2026-2030 strategic priorities, as part of a new planning process to increase transparency and encourage earlier stakeholder engagement. The comment period is open until Friday, May 15. In the interim, the board shared updates on its standard-setting, research and rulemaking projects.

The PCAOB is still developing its new standard QC 1000, A Firm's System of Quality Control, whose Dec. 15 effective date was postponed.

The board is also assessing whether there's a need for guidance or changes in light of increased use of technology tools, like artificial intelligence, by auditors and tax preparers. The research may lead to standard-setting projects in the future.

Finally, the board is considering proposing a permanent broker-dealer inspection program. Similar to standard-setting projects, rule-making projects such as these will go through a public notice-and-comment process to gather input from stakeholders and investors.