The SEC approved Public Company Accounting Oversight Board Auditing Standard No. 3, Audit Documentation in August 2004.

PCAOB Auditing Standard No. 3 establishes general requirements for documentation an auditor should prepare and retain in connection with engagements conducted pursuant to the standards of the PCAOB. This standard is effective for audits of financial statements of companies with fiscal years ending on or after November 15, 2004.

The SEC’s order approving the auditing standard is available on the SEC’s web site. The standard can be downloaded from the PCAOB web site.

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