PCAOB Auditing Standard No. 3 Approved by SEC
PCAOB Auditing Standard No. 3 establishes general requirements for documentation an auditor should prepare and retain in connection with engagements conducted pursuant to the standards of the PCAOB. The standard, which supersedes SAS No. 96 on audit documentation, is effective for audits of financial statements of companies with fiscal years ending on or after November 15, 2004.
The SEC’s order approving the auditing standard is available on the PCABO's Web site www.pcaobus.com/standards/index.asp .