AICPA Auditing Standards Board plans future projects

The American Institute of CPAs’ Auditing Standards Board has published a work plan for 2026 through 2027 and a five-year strategic plan for 2026 through 2030.

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Among the priorities is a standards update that’s expected to be finalized in the third quarter of this year aimed at strengthening and clarifying the auditor’s responsibilities when fraud or suspected fraud is identified.

Another top priority is an initiative to update the core attestation standards and address the increasing demand for emerging areas of practice, including sustainability assurance. The board has already posted an exposure draft of a proposed Statement on Standards for Attestation Engagements to address examination and review engagements to report on sustainability information.

Also in the works are proposed requirements and guidance related to confirmations in financial statement audits, including changes to address the ability to obtain information from a knowledgeable external source. The ASB expects to vote on this proposal at a meeting in May.

The board is also working on an assessment and potential targeted amendments to its existing going concern standard, and considering whether more alignment with a recent international standard update is necessary while retaining important jurisdictional elements. Depending on the outcome of the ASB’s deliberations, a draft proposal could be put out for public comment by the end of 2026.

Another major issue is the accounting and auditing profession’s increasing reliance on artificial intelligence and data analytics. The ASB is considering guidance that may be necessary to encourage the effective and appropriate use of technology such as generative AI and agentic AI, as well as technology-enabled tools such as data analytics, to promote audit quality.

As part of its regular work, the Auditing Standards Board will also be monitoring relevant standard-setting activities of the International Auditing and Assurance Standards Board and the Public Company Accounting Oversight Board when considering related projects and alignment.

“The ASB is focused on updating standards and guidance to help practitioners deliver quality engagements and to maintain the relevancy of the standards in a changing environment,” said AICPA chief auditor Jennifer Burns in a statement Monday.

The board’s objectives in its 2026-2030 Strategic Priorities Plan are to:

• Develop high-quality standards in the public interest.
• Enhance communications with stakeholders.
• Think and operate strategically.
• Keep standards relevant in a changing environment.
• Support the effective implementation and application of standards.

For more information, visit the ASB’s resource page.