The Auditing Standards Board, a key standard-setting body of the American Institute of CPAs, is seeking comment on its proposed strategic plan for 2026-30.
The ASB issues standards for auditing private companies, quality management standards for practitioners providing audit and attest services to private companies, and attestation standards. It also develops practice guidance for performing audit and attestation engagements under AICPA standards.
Comments on the 2026-2030 strategic plan proposal are due by June 13, 2025, and can be made by completing a related survey. Alternatively, comments can be sent directly to commentletters@aicpa-cima.com.
“The feedback on the proposed strategy is incredibly valuable to the ASB,” said Sara Lord, chief auditor of RSM US LLP and ASB chair. “The board pays a vital role in serving the public interest by developing, updating and communicating auditing, attestation and quality management standards, and we need stakeholders’ input to help fulfill our mission.”
The proposed plan revolves around five initiatives:
- Develop high-quality standards in the public interest.
- Enhance communications with our stakeholders.
- Think and operate strategically.
- Keep our standards relevant in a changing environment.
- Support the effective implementation and application of our standards.
Beyond the forward-looking strategic plan, the ASB continues to move ahead with its 2025 work plan, which includes:
- Undertaking standard-setting projects to address the increasing demand for sustainability assurance and the significant public interest in strengthening the auditor’s responsibilities relating to fraud.
- Seeking feedback on an exposure draft, Proposed SAS External Confirmations, which proposes changes to various AU-C sections in AICPA Professional Standards. The comment period ends June 30.
- Seeking comment on an exposure draft,Proposed SSAE Scope Limitations in a Review Engagement, which would amend AT-C section 210to permit issuance of a qualified or disclaimer of conclusion in a review engagement when a scope limitation exists. The comment period ends May 30.
“The ASB has several important projects underway, and we are looking forward to the public comments,” said Jennifer Burns, chief auditor of the AICPA. “Online surveys have been developed and comment periods have been staggered to facilitate the comment process.”
For more information on the ASB is on this resource page.
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