January 15, 2008
NASBA comments to the Public Company Accounting Oversight Board (“Board”) on the Proposed Policy Statement: Guidance Regarding Implementation of PCAOB Rule 4012 [Inspections of Foreign Registered Public Accounting Firms]. The Board expects the comments to increase its level of reliance on non-U.S. accounting firms’ oversight programs, where possible, and on the proposed criteria to be used by the PCAOB to evaluate whether or not full reliance could be placed on a particular program. The Proposal would permit the PCAOB to place full reliance on a non-U.S. oversight entity to perform the inspections, or investigations, of foreign registered public accounting firms once that entity’s program meets the Board’s criteria for inspections.
- MEMBER CENTER