PCAOB Auditing Standards

PCAOB Auditing Standards are rules established by the Public Company Accounting Oversight Board to ensure high-quality audits of public companies. They set requirements for auditors to properly evaluate a company's financial statements, maintain objectivity, and detect errors or fraud. These standards aim to improve the accuracy, transparency, and consistency of financial reporting, thereby protecting investors and maintaining market confidence. Essentially, they serve as a professional framework guiding auditors to perform thorough, reliable audits that stakeholders can trust.