Comments of the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the PCAOB’s Proposed Amendments Related to Aspects of Designing and Performing Audit Procedures That Involve Technology-Assisted Analysis of Information in Electronic Form

Abstract

SUMMARY On June 26, 2023, the Public Company Accounting Oversight Board (the Board or PCAOB) issued a request for comment on its Proposed Amendments Related to Aspects of Designing and Performing Audit Procedures That Involve Technology-Assisted Analysis of Information in Electronic Form (Public Company Accounting Oversight Board (PCAOB) 2023a). This commentary summarizes the participating committee members’ views on the proposal. We first provide answers to specific questions posed in the release, viewing the issuance of a new standard as a given. Subsequently, we also examine how well the proposal’s economic analysis establishes a solid foundation for new standard setting.