- Separate requirement paragraphs from the application text, so auditors can identify the requirements more easily;
- Include an objective within each standard to help auditors understand what the standard is meant to accomplish; and
- Set the same effective date for all “clarified” standards. The date will be far enough in the future to allow firms sufficient time to update their methodologies and training programs.
Harold Monk, ASB Chair, also indicated that this is part of the project to bring greater harmony between US and International auditing standards. I heard him speak recently at a conference on changes in auditing standards and was very impressed by him.
Sadly, they aren't going to make the standards any easier.