PCAOB

A&A

IFRS Update: SEC Decision Still Months Away

James Kroeker, the SEC chief accountant, said last week that the SEC staff will need "at least a few more months" to complete its work on a report to the commission that will show the impact of adopting IFRS on US companies and capital markets. The SEC will study the staff report before making a decision.
A&A

PCAOB Proposal Would Bring Greater Transparency to Public Company Audits

On October 11, 2011, the Public Company Accounting Oversight Board (PCAOB) voted to issue for public comment proposed amendments to its standards that would bring greater transparency to public company audits.
A&A

PCAOB to initiate broad discussion of issues relating to auditor independence

The PCAOB is conducting an open meeting at its headquarters in Washington DC to consider a concept release on ways that auditor independence, objectivity, and professional skepticism could be enhanced.
Education & Careers

PCAOB selects academic institutions to receive scholarships for 2011-2012 year

Accounting students from 52 undergraduate and graduate institutions will be the recipients of scholarships awarded by the Public Company Accounting Oversight Board (PCAOB).
A&A

PCAOB moves forward with changes to auditor's reporting model

Citing a goal of investor protection, the PCAOB has issued a concept release to discuss alternatives for changing the auditor's reporting model. The Board is seeking comment on alternatives and other matters presented in the concept release.
A&A

PCAOB chairman: Audit firm changes may become mandatory

The chair of the Public Company Accounting Oversight Board has signaled that public companies may be required to regularly change their auditing firms to reduce conflicts of interest.
A&A

Dodd-Frank update: PCOAB announces adoption of interim inspection program for audits of securities brokers and dealers

The Public Company Accounting Oversight Board (PCAOB) has adopted certain rules to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act related to audits of securities brokers and dealers.
A&A

James Doty: New PCAOB chairman works to increase audit enforcement initiatives

To say that James Doty has had a lot on his plate during his first six weeks as chairman of the Public Company Accounting Oversight Board (PCAOB) would be an understatement.
A&A

Coming to a town near you: PCAOB forum series addresses emerging small business audit issues

The Public Company Accounting Oversight Board has announced the 2011 schedule for its Forum on Auditing in the Small Business Environment. The first of seven events will be held in Boston, MA, on Thursday, April 28.
A&A

James Doty to chair SEC accounting oversight board

James Doty, a partner at Washington, D.C.-based law firm Baker Botts LLP who served as general counsel for the SEC in the early 1990s, recently was appointed by SEC chairman Mary Schapiro to lead the agency’s Public Company Accounting Oversight Board.
A&A

PCAOB to conduct audits of U.S. accounting firms operating in the UK

The Public Company Accounting Oversight Board and the Professional Oversight Board in the UK have signed an agreement that will allow the PCAOB, working in cooperation with the POB, to resume audits of accounting firms registered in the UK.
A&A

PCAOB establishes new Office of Outreach and Small Business Liaison

The Public Company Accounting Oversight Board announced yesterday the establishment of the Office of Outreach and Small Business Liaison.
A&A

PCAOB issues inspection observations of auditing during economic crisis

The Public Company Accounting Oversight Board recently released a report summarizing inspection observations of audits of financial institutions and other companies during the economic crisis.
A&A

PCAOB announces participants in roundtable on new proposed communications standard

The Public Company Accounting Oversight Board has announced the names of the participants in the roundtable discussion on its proposed standard on auditors' communications with audit committees.
A&A

PCAOB staff directed to develop proposal to ask Congress to make disciplinary hearings public

The Public Company Accounting Oversight Board's acting chairman recently announced that he has staff to develop a proposal to send to Congress a request that it consider a change to the Sarbanes-Oxley Act of 2002 that would enable the PCAOB's disciplinary hearings and related proceedings to be made public.
A&A

PCAOB addresses failure-to-supervise provision

The Public Company Accounting Oversight Board has issued its views regarding the provision of the Sarbanes-Oxley Act of 2002 that authorizes the PCAOB to impose sanctions on registered public accounting firms and their supervisory personnel for failing to reasonably supervise associated persons.
A&A

PCAOB adopts new auditing standards on risk assessment

The Public Company Accounting Oversight Board has adopted a suite of eight auditing standards related to the auditor's assessment of, and response to, risk in an audit.
A&A

PCAOB proposes new auditing standard on confirmation

The Public Company Accounting Oversight Board this week approved for public comment a proposed audit standard on confirmation, which is designed to strengthen current requirements under the auditing standard.
Community News

PCAOB names Old Dominion University Professor Michael Stein as academic fellow

Public Company Accounting Oversight Board Acting Chairman Daniel L. Goelzer recently announced that Professor Michael Stein has been named as PCAOB's inaugural Academic Fellow.
A&A

UPDATE: Supreme Court rules PCAOB violates Constitution's separation of powers principle

The U.S. Supreme Court this week ruled that the Public Company Accounting Oversight Board violates the U.S. Constitution's separation of powers principle.

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