PCAOB Adopts Amendments to Independence Rules, Announces 2020-2024 Strategic Plan

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The Public Company Accounting Oversight Board (PCAOB) has approved its 2020-2024 Strategic Plan, as well as its fiscal 2021 budget of $287.3 million. Several key factors inform the PCAOB’s strategic outlook, including disruptive technological changes and stakeholder engagement and communications. These are the same factors identified in last year’s strategic plan, as the PCAOB believes that these are the correct factors to direct their efforts.

Here, Audit Analytics analyzes the PCAOB’s targeted amendments to its interim independence standards applicable to lending arrangements between auditors and audit clients and details the 2020-2024 plan.

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