The AICPA Standard-Setting Body Has Robust Work Plan in Place for Key Public Interest Issues
NEW YORK (March 2, 2026) – The Auditing Standards Board (ASB), a senior standard-setting body of the American Institute of CPAs, has mapped out a public-interest focused work plan through the end of next year, with projects ranging from an updated standard on fraud to targeted changes related to confirmation procedures.
Both the board’s 2026-27 Work Plan and its list of strategic priorities for the next five years are available for review on the AICPA website. Major projects include:
A standards update, expected to be finalized in the third quarter this year, that addresses the significant public interest in strengthening and clarifying the auditor’s responsibilities when fraud or suspected fraud is identified.
An initiative to update core attestation standards and address increasing demand for emerging areas of practice, including sustainability assurance. An exposure draft, Proposed Statement on Standards for Attestation Engagements:, is now available or comment.
Propposed 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 is expected to vote on this proposal at its May meeting.
An assessment and potential targeted amendments to the existing going concern standard, with the goal of considering whether additional 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 the year.
Ongoing consideration of guidance that may be required 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 routine work, the Auditing Standards Board will also be monitoring relevant standard setting activities of the International Auditing and Assurance Standards Board (IAASB) and Public Company Accounting Oversight Board (PCAOB) for consideration of 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.
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 on the ASB, please visit its resource page.
Media Contact:
Jeff May
212.596.6122