PCAOB to Consider Periodic Reporting Rules for Accounting Firms on Tuesday
Section 102(d) of the Sarbanes-Oxley Act of 2002 provides that each registered accounting firm shall submit an annual report to the Board. In addition, firms may be required to report more frequently or provide information specified by the Board or Securities and Exchange Commission (SEC). The board is considering proposing rules and forms to govern and facilitate annual reporting of certain information and to require, govern, and facilitate special reporting of certain other information should specificed events occur.
The Board will also consider proposing rules that, in certain circumstances, would allow a successor firm to succeed to the registration status of a predecessor firm following a merger or other change in the registered firm’s legal form.