In order to alert the audit community to changes in professional standards, we issue Professional Standards Updates (PSU). The purpose of these updates is to highlight the issuance and some key points of recent standards. PSUs do not contain a complete summary of the standards. Those affected by a new standard should refer to that standard for details. This PSU highlights the effective dates of selected previously reported standards that are expected to affect auditors at the time of or shortly after issuance of the most recent update.
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