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Heads Up: PCAOB Proposes New Auditing Requirements on Related Parties, Significant Unusual Transactions, and Other Matters

Volume 19, Issue 7


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On February 28, 2012, the PCAOB issued a proposed standard on related parties as part of a release that includes proposed amendments to PCAOB standards on significant unusual transactions, executive compensation, and other matters. The proposed standard would supersede PCAOB AU Sections 334 and 9334 and amend certain other PCAOB auditing standards. This Heads Up discusses proposed requirements under the release that would most likely result in changes to current practice.

Read more in the file attached below or visit the Heads Up Archive for past issues.

Heads Up and other information on accounting and financial disclosure also can be found in the Technical Library: The Deloitte Accounting Research Tool. Technical Library, a subscription-based research tool, includes material from the the Financial Accounting Standards Board (FASB), Emerging Issues Task Force (EITF), AICPA, Securities and Exchange Commission (SEC) and International Accounting Standards Board (IASB), in addition to our own accounting manual and interpretative accounting guidance. Updated every business day, the Technical Library has an intuitive design and navigation system. Powerful search features enable users to locate information quickly, at any time and from any computer. Additionally, Technical Library subscribers receive periodic e-mails highlighting recent additions to the Technical Library.

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