The U.S. auditor regulator said it will focus on improving audit quality through both prevention and detection
The Public Company Accounting Oversight Board also will provide more timely feedback on inspection results—a shift from past enforcement strategy.
The PCAOB, which sets and enforces audit standards, released its draft strategic plan for public comment on Aug. 10. The document differs from past plans in part because the current board sought the input of auditors, investors and other stakeholders, as they set the direction of the 16-year-old regulator.
After the Securities and Exchange Commission replaced all five PCAOB members in December, the...