PCAOB Releases New Tool To Help Auditors Gauge Their Understanding of New Confirmation Standard

The PCAOB posted a “knowledge check”  to help auditors assess their understanding of AS 2310, The Auditor’s Use of Confirmation, which replaces the interim standard AS 2310, The Confirmation Process. This new standard is effective for audits of financial statements for fiscal years ending on or after June 15, 2025.

The PCAOB’s website confirms that “[t]he results of these knowledge checks are anonymous and the PCAOB staff does not intend to make them public or to use them in the PCAOB’s oversight activities.”

Take the quiz here.