The PCAOB posted an update today on the following topic:
PCAOB posted to its Web site today Auditing Standard No. 7, Engagement Quality Review, and Conforming Amendment to PCAOB Interim Quality Control Standards Resulting from the Adoption of PCAOB Auditing Standard No. 7, which were approved by the U.S. Securities and Exchange Commission (SEC) on Jan. 15, 2010:
http://www.pcaobus.org/Rules/Rules_of_the_Board/All.pdf (pages 561-562)
Auditing Standard No. 7 and theConforming Amendment are effective for engagement quality reviews of audits and interim reviews for fiscal years beginning on or after Dec. 15, 2009.