Audit Board Pushes Accounting Firm Governance Overhaul Into 2024

US auditors will have to wait at least a few more months for final rules on how firms design and monitor their internal compliance checks—a project that would overhaul core requirements for firms on issues such as ethics, staff assignments, and vetting clients.

The Public Company Accounting Oversight Board updated its rule-writing agenda Wednesday, pushing back expected completion dates to 2024 for most of its active projects. Still on the docket for this year however is a proposal to update board rules so the regulator can more quickly discipline firms or auditors convicted of a crime or sanctioned by another ...