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International Audit Chief Says New Rules a ‘Major Step’ (Podcast)

Oct. 16, 2020, 8:46 AM

New rules for how corporate auditors manage the quality of their own work are on their way. But many audit firms are worried that international standards will diverge from those in the U.S., leaving them to cope with a patchwork of do’s and don’ts.

On this episode of our weekly podcast, Talking Tax, host Amanda Iacone talks with Tom Seidenstein, chair of the International Auditing and Assurance Standards Board. Tom explains how the IAASB developed its new auditing standards with the input of its U.S. counterpart and why the standards should help shape a similar project in the U.S.

To contact the reporter on this story: David Schultz in Washington at dschultz@bloombergindustry.com

To contact the editors responsible for this story: Rachael Daigle at rdaigle@bloombergindustry.com; Kathy Larsen at klarsen@bloombergtax.com

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