PCAOB Standing Advisory Group Meetings 


The Standing Advisory Group (SAG) is a group whose purpose is to advise the PCAOB on the establishment of auditing and related professional practice standards. The SAG is composed of highly qualified persons representing the auditing profession, public companies, investors and others.

PCAOB SAG Meeting Dates, CAQ Summaries and Discussion Topics

November 15-16 2012

  • CAQ Summary of November 2012 SAG Meeting
  • SAG Discussion Topics:
    • Update on PCAOB Developments
    • Update on Standard-Setting Agenda
    • Auditor Reporting Model
    • Consideration of Outreach and Research Regarding the Auditor's Approach to Detecting Fraud

May 17, 2012

  • CAQ Summary of May 2012 SAG Meeting
  • SAG Discussion Topics:
    • Update on PCAOB Developments
    • Standard-Setting Update
    • Consideration of Topics for Possible Future SAG Discussion and/or Standard-Setting
    • Going Concern
    • Related Parties/Significant Unusual Transactions
    • Update on Auditor Reporting

November 9-10 2011

  • CAQ Summary of November 2011 SAG Meeting
  • SAG Discussion Topics:
    • Update on PCAOB Developments
    • Standard-Setting Update
    • Auditor Independence and Audit Firm Rotation
    • Going Concern
    • Fair Value Pricing Sources Task Force
    • Improving the Transparency of Audits
    • Year-end Audit Risk and Financial Reporting Issues
    • Auditor's Reporting Model - Preliminary Overview of Comments Received

March 24, 2011

  • CAQ Summary of March 2011 SAG Meeting
  • SAG Discussion Topics:
    • Update on PCAOB Developments
    • Standard-Setting Update
    • FASB Presentation
    • Modernization of COSO Internal Control - Integrated Framework
    • Auditing Financial Statement Disclosures
    • The Auditor's Reporting Model

October 13-14 2010

  • CAQ Summary of October 2010 SAG Meeting
  • SAG Discussion Topics:
    • Update on PCAOB Developments
    • Update on OCA Standard-Setting Activities  
    • Overview and Key Provisions of Risk Assessment Standards
    • Inspection Observations Regarding Inspections During the Economic Crisis
    • Designing and Implementing a System of Quality Control
    • FASB/IASB Projects and Potential Challenges to Auditing
    • Failure to Supervise - Potential Rulemaking
    • Confirmation - Summary of Comments                                                                                     

July 15, 2010

  • CAQ Summary of July 2010 SAG Meeting
  • SAG Discussion Topics:
    • Broker-Dealer Audit Considerations 
    • FASB/IASB Projects and Potential Impact on Auditors
    • Subsequent Events
    • Auditor's Reporting Model Project Framework
    • Communications with Audit Committees - Summary of Comments 

April 7-8 2010

  • CAQ Summary of April 2010 SAG Meeting
  • SAG Discussion Topics:
    • Responsibilities of the Principal Auditor 
    • Auditor's Reporting Model
    • Update on Office of the Chief Auditor Standard-Setting Activities and Emerging Issues  
    • Update on ACAP Recommendations
    • Risk Assessment - Summary of Comments Received

October 14-15 2009

  • CAQ Summary of October 2009 SAG Meeting
  • SAG Discussion Topics:
    • Standard-Setting Activities and Emerging Issues
    • Update on Proposed Standards and Concept Releases Issued
    • Auditing Fair Value Measurements and Using the Work of a Specialist
    • Communications with Audit Committees
    • Related Parties

April 2, 2009

October 22-23 2008

February 27, 2008 *

  • SAG Discussion Topics:
    • CIFiR Proposal on Preparer and Auditor Judgments
    • Accounting Firms' and Auditors' Responsibility to Supervise
    • Global Quality Control Practices
    • Emerging Issues Discussion

October 18, 2007

  • CAQ Summary of October 2007 SAG Meeting
  • SAG Discussion Topics:
    • Proposed Standards-Setting Activities
    • Audit Implications of IFRS Financial Statements in U.S. SEC Filings
    • PCAOB Office of Research & Analysis - Working Paper Presentation - Changes in Market Responses to Restatement Announcements
    • Emerging Issues Discussion - Subprime Mortgage Crisis and Illiquidity in the Markets

June 21, 2007

February 22, 2007

October 5, 2006

June 12-13 2006

  • CAQ Summary of June 2006 SAG Meeting
  • SAG Discussion Topics:
    • PCAOB Activities Regarding Section 404 and AS 2
    • Implementation of Section 404 and AS 2
    • The Research Synthesis Program
    • Implications of ICFR Reporting for Auditing
    • Emerging Issues Discussion - Stock Option Backdating

February 9, 2006

  • CAQ Summary of February 2006 SAG Meeting
  • SAG Discussion Topics:
    • Using the Work of a Specialist
    • Review of Risk Assessment Standards - Auditor Consideration of Materiality in Planning and Evaluation of Likely Misstatements
    • Emerging Issues Discussion - Independence and Indemnification/Limitation of Liability Clauses

October 5-6 2005

  • CAQ Summary of October 2005 SAG Meeting
  • SAG Discussion Topics:
    • Proposed Standards-Setting Activities
    • Reasonable Assurance
    • Engagement Quality Reviews in Smaller Registered Firms
    • Communications with Audit Committees
    • Review of Existing Standards - Principles of Reporting
    • Emerging Issues Discussion - PCAOB Inspection Results

June 8-9 2005

  • CAQ Summary of June 2005 SAG Meeting
  • SAG Discussion Topics:
    • Summary of First Round of 404 Reporting and Recent PCAOB Activities
    • Discussion of Strategies for 2005
    • Audit Committee Oversight
    • Evaluation of Material Weaknesses
    • Reporting and Communications Issues
    • Multi-Location Issues
    • Small Business Panel

February 16, 2005*

  • SAG Discussion Topics:
    • Auditor's Reporting Model
    • Risk Assessment in Financial Statement Audits
    • Emerging Issues Discussion

November 17-18 2004*

  • SAG Discussion Topics:
    • Standards-Setting Priorities
    • Proposal to Reconsider the GAAS Hierarchy of Auditing Standards and Guidance
    • Potential New Codification Framework for PCAOB Auditing Standards
    • Potential Standard - Elements of Quality Control
    • Reporting on a Correction of a Material Weakness
    • Challenges of Section 404

September 8-9 2004*

  • SAG Discussion Topics:
    • Financial Fraud 
    • Related Party Transactions
    • Auditing Fair Value
    • Audit Confirmations

June 21-22 2004*

  • SAG Discussion Topics:
    • Scope of PCAOB's Standard-Setting Activities
    • SAG Objectives and Operations
    • Prior Standard-Setting Activities
    • Revision of the GAAS Hierarchy
    • Prioritization and Review of Existing Standards Including Consideration of New Standards
    • Potential Project - Auditor's Responsibility for Communications to Investors Containing Financial Information
    • Potential Standard - Engagement Quality Reviews
    • Potential Standard - Communications and Relations with Audit Committees
    • Potential Standard - Quality Control Standards

*A CAQ summary of this meeting is not available. 




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