The American Institute of CPAs’ (AICPA) Auditing Standards Board (ASB) is requesting feedback for its proposed strategic plan covering the years 2026 to 2030.
The ASB is responsible for setting standards for auditing private companies.
The feedback is being sought to ensure ASB’s initiatives align with public interest and the evolving business landscape.
Comments on the proposed strategic plan are due by 13 June 2025.
ASB chair RSM US chief auditor Sara Lord said: “The feedback on the proposed strategy is incredibly valuable to the ASB.
“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 fulfil our mission.”
The plan outlines five initiatives aimed at developing high-quality standards, enhancing stakeholder communications and thinking and operating strategically.
These also intend to maintain relevance in a changing environment and support the implementation and application of standards.
In addition to the future-oriented strategic plan, the ASB is progressing with its 2025 work plan.
This includes standard-setting projects to meet the growing demand for sustainability assurance and to enhance auditor responsibilities regarding fraud detection.
AICPA chief auditor Jennifer Burns said: “The ASB has several important projects underway, and we are looking forward to the public comments.
“Online surveys have been developed and comment periods have been staggered to facilitate the comment process.”
The board is also soliciting feedback on two exposure drafts.
One of them is the proposed SAS External Confirmations, which suggests revisions to the AU-C sections in AICPA Professional Standards, with comments due by 30 June.
The other one is the proposed SSAE, which would allow a qualified or disclaimer of conclusion in review engagements when a scope limitation exists.
Earlier in March 2025, Catherine Halie Creps, an audit partner at KPMG, was appointed as the chair of the ASB.
Creps, from KPMG’s Department of Professional Practice, will begin her term at the end of May, succeeding Sara Lord of RSM US.
