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New Risk Assessment Standards for Audits for Public Companies

The Public Company Accounting Oversight Board (PCAOB) has adopted new risk-assessment standards for audits conducted for fiscal periods starting on or after Dec. 15, 2010. “These new standards are a significant step in promoting sophisticated risk assessment in audits and minimizing the risk that the auditor will fail to detect material misstatements,” said Daniel Goelzer, […]

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