The PCAOB has issued new staff guidance on things for auditors to consider regarding the relevance and reliability of information from external sources when planning to use it as audit evidence.
The guidance also addresses the relationship between the quality and quantity of audit evidence.
The guidance comes after the board’s staff realized the expanded use of information from external sources — a result of advancements in technology — affected the volume and nature of information auditors can use during engagements. Learn more.