* All chapters are presented in a revised format that differentiates requirements and application guidance related to those requirements.

* Supplemental guidance from the appendix of the 2011 revision is either removed or incorporated into the individual chapters.

* The independence standard is expanded to state that preparing financial statements from a client-provided trial balance or underlying accounting records generally creates significant threats to auditors’ independence, and auditors should document the threats and safeguards applied to eliminate and reduce threats to an acceptable level or decline to perform the service.

* The peer review standard is modified to require that audit organizations comply with their respective affiliated organization’s peer review requirements and GAGAS [generally accepted government auditing standards] peer review requirements. Additional requirements are provided for audit organizations not affiliated with recognized organizations.

* The standards include a definition for waste ("The act of using or expending resources carelessly, extravagantly, or to no purpose. Importantly, waste can include activities that do not include abuse and does not necessarily involve a violation of law. Rather, waste relates primarily to mismanagement, inappropriate actions, and inadequate oversight.") 

* The performance audit standards are updated with specific considerations for when internal control is significant to the audit objectives.