PCAOB quizzes auditors on new confirmation standard

The Public Company Accounting Oversight Board posted a new "knowledge check" to help auditors gauge their understanding of the new confirmation standard.

AS 2310, "The Auditor's Use of Confirmation, and Other Amendments to PCAOB," replaces an interim standard, AS 2310, "The Confirmation Process," and is effective for audits of financial statements for fiscal years ending on or after June 15, 2025. The results of the knowledge checks are anonymous, and the PCAOB staff will not publicize results or use them in its oversight activities. 

This knowledge check is the latest in a series of resources, including staff presentations, to help auditors prepare for implementation. Earlier this month, the PCAOB posted another knowledge check on its new quality control standard, QC 1000, "A Firm's System of Quality Control."

More implementation resources on AS 2310 and other PCAOB standards and rules can be found at the Implementation Resources for PCAOB Standards and Rules page. Auditors with questions can contact PCAOB staff via its contact form or by phone at (202) 591-4395.