Strat Petroleum Ltd (SPRL)

[greenbullz]

Strat's audited financial reporting is not just that. Strat's reports have to be PCAOB Certified in which is far more complex than a regular audit. It also puts a great amount of responsibility on the accounting firm doing the audit.



Standards


Standards & Related Rules

Interim Standards

An Audit of Internal Control Over Financial Reporting

Proposed & Adopted Standards & Related Rules

Staff Questions & Answers

Standing Advisory Group

Standards-setting

Policy Regarding Use of PCAOB Materials



Standards Documents
Standards Related Rules: 3100, 3101, & 3200T

Auditing Standard No. 1

Auditing Standard No. 2

Auditing Standard No. 3

Auditing Standard No. 4

Standards and Related Rules
Auditing Standard No. 2: An Audit of Internal Control Over Financial Reporting Performed in Conjunction With an Audit of Financial Statements
This standard was approved by the Securities and Exchange Commission on June 17, 2004, and is effective for audits of internal control over financial reporting required by Section 404(b) of the Sarbanes-Oxley Act of 2002.

Auditing Standard No. 2

Policy Statement Regarding Implementation of Auditing Standard No. 2 (5/16/2005)

Report on the Initial Implementation of Auditing Standard No. 2 (11/30/2005)

Staff Questions and Answers on Auditing Standard No. 2:

Questions 1 - 26 (June 23, 2004, Revised July 27, 2004)
Questions 27 - 29 (October 6, 2004)
Questions 30 - 36 (November 22, 2004)
Question 37 (January 21, 2005 )
Questions 38 – 55 (May 16, 2005 )
Conforming Amendments to PCAOB Interim Standards Resulting from the Adoption of PCAOB Auditing Standard No. 2

The conforming amendments were approved by the Securities and Exchange Commission on November 17, 2004. For integrated audits of financial statements and internal control over financial reporting, the conforming amendments become effective at the same time that PCAOB Auditing Standard No. 2 becomes effective. For issuers that are not considered to be accelerated filers under Securities Exchange Act Rule 12b-2 and for issuers that are not required to comply with section 404 of the Sarbanes-Oxley Act of 2002, the conforming amendments become effective for audits of financial statements for periods ending on or after July 15, 2005. The part of the conforming amendments that supersedes AT sec. 501, “Reporting on an Entity’s Internal Control Over Financial Reporting,” was effective immediately upon approval. Section D, “Effective Date,” and section E, “Effect of Auditing Standard No. 2 on Audits of Financial Statements Only,” of the Board’s Release that accompanies the conforming amendments provide more detailed information regarding effective dates and the effect of Auditing Standard No. 2 on audits of financial statements only.

Rulemaking Docket: Link to information related to the rulemaking process of this standard, including proposing and adopting releases, public comments, and board statements.

PCAOB and SEC Roundtable on Internal Control Reporting Requirements (5/10/2006)

Statement Regarding the PCAOB's Approach to Inspections of Internal Control Audits in the 2006 Inspection Cycle (5/1/2006)

Briefing Paper: Standing Advisory Group Meeting - Implementation of Section 404 and Auditing Standard No. 2 (6/8-9/2005)

Briefing Paper: Standing Advisory Group Meeting - Challenges of Section 404 (11/17-18/2004)

Board Release: Auditing Standard No. 2 (3/9/2004)

Roundtable: Reporting on Internal Control (7/29/2003)

Briefing Paper: Roundtable on Reporting on Internal Control (7/10/2003)

Auditing Standard No. 4: Reporting on Whether a Previously Reported Material Weakness Continues to Exist

Overview of Auditing Standard No. 4

Related Securities and Exchange Commission Documents


there are alot of links on this page to read more on the process...

http://www.pcaobus.org/Standards/Standards_and_Related_Rules/Auditing_Standard_No.2.aspx