Wiley Practitioner's Guide to GAAS 2013: Covering all SASs, SSAEs, SSARSs, and Interpretations

PCAOB 10: Supervision of the Audit Engagement1

EFFECTIVE DATE AND APPLICABILITY

Effective Date	This standard currently is effective.
Applicability	All audit engagements.

OBJECTIVES OF PCAOB STANDARD 10

Public Company Accounting Oversight Board (PCAOB) Auditing Standard 10 sets the objective for the auditor of supervising the audit engagement, which includes supervising the work of engagement team members so that the work is performed as directed and supports the conclusions reached.

FUNDAMENTAL REQUIREMENTS

Responsibility of the Engagement Partner for Supervision

The audit partner is responsible for an audit engagement and its performance. Thus, the engagement partner is responsible for the proper supervision of the work of the engagement team members, and for compliance with PCAOB standards. This includes standards regarding using the work of specialists, other auditors, internal auditors, and others involved in testing controls.

The engagement partner may obtain assistance from the engagement team members in fulfilling the responsibilities stated by this standard. Those team members who assist the engagement partner with supervision of the work performed by other engagement team members should comply with the applicable requirements of this standard.

Supervision of Engagement Team Members

The engagement partner and those other engagement team members who perform supervisory activities should do the following:

• Inform the engagement team members of their responsibilities, ...