Tags » PCAOB

Four questions audit committees should ask their audit firms

by Cydney Posner

Audit Committee members may be interested in this release issued by the PCAOB in August 2012 designed “to assist audit committees in (1) understanding the PCAOB’s inspections of their audit firms and (2) gathering useful information from their audit firms about those inspections.” The PCAOB regularly performs inspections of registered audit firms, large and small, as well as a selection of the audits they have conducted.  604 more words

Corporate Governance

SEC to issue concept release regarding audit committees

by Cydney Posner

Compliance Week reports  that SEC Chair Mary Jo White, speaking before the Investor Advisory Group of the PCAOB, said that the SEC plans to Issue a concept release in early 2015 “exploring possible avenues for elevating the work of public company audit committees.” The release is expected to address many of the issues that the PCAOB is examining, particularly those relating to the relationship between the audit committee and the independent auditors. 223 more words

Corporate Governance

A Final Look at Sarbanes-Oxley

Has Sarbanes-Oxley been a positive or negative regulation for our businesses? While the debate isn’t ending anytime soon, the impacts that SOX has made can be seen in innumerable situations.   393 more words

What Going Concern Opinions Mean For Investors and How FASB's Changes Affect Auditors

In the height of the recession, auditors’ opinions fluctuated with the economic conditions resulting in more and more going concern issue’s paragraphs being inserted into their opinions. 425 more words

Big Four Audit Firms Under Pressure

Take Our Poll 

I have worked with the largest US audit firms for decades. Over time, as Sarbanes-Oxley and Dodd-Frank legislation took hold, along with the creation of the PCAOB, increased stress on audit firms has been the result. 634 more words

Business Management

What is the PCAOB?

As a result of the Sarbanes-Oxley Act of 2002, Congress established the Public Company Accounting Oversight Board (PCAOB), a private sector and non-profit organization which has oversight over the audits of publicly traded companies within the United States. 112 more words

Laws And Regulation

Has the PCAOB finally reached a compromise on naming audit engagement partners?

by Cydney Posner

The saga of the PCAOB and its proposals to require identification of the audit engagement partner continues.   Compliance Week reports, based on a newly published PCAOB standard-setting agenda, that the PCAOB is now considering issuance of a supplemental request for comment in connection with yet another proposed compromise on this issue. 444 more words