The Sec approved amendments to audit regulation QC 1000 on November 2, 2026, following recommendations from the Pcaob. These changes aim to reduce compliance costs by removing the external quality control function requirement for firms auditing 100 or more issuers annually. Pcaob Chair Jim Logothetis defended the modernization of inspections at a Standards and Emerging Issues Advisory Group meeting on October 30. He stated that the new process will provide better products to audit committees and investors by focusing on firm systems rather than individual file examinations.
Read the full story at cfobrew.com.
Photo: Ch%E2u%20Th%F4ng%20Phan (CC0) via Openverse
