Tag Archives: PCAOB Chairman James R. Doty
Doty Addresses CPT/Baruch Conference
State Board Report December 2012 Audit costs have become a commodity, Public Company Accounting Oversight Board Chairman James R. Doty told the CUNY Baruch College “Ensuring Integrity: 7th Annual Audit Conference,” held November 29 and co-sponsored by the NASBA Center for the Public Trust. Citing the stagnation of audit fees, while the large audit firms’…
SEC Continues to Press D&T Shanghai
State Board Report June 2012 The U.S. Securities and Exchange Commission brought an enforcement action against Deloitte Touche Tohmatsu CPA Ltd. (D&T Shanghai) on May 9, 2012, which was followed by Chinese regulators issuing rules that require the Chinese affiliates of the large international accounting firms to move control of those affiliates to partners who…
House Subcommittee Ponders Oversight
State Board Report April 2012 Whether or not the PCAOB should have the authority to require auditor firm rotation was among the issues addressed at a March 28 hearing on “Accounting and Auditing Oversight: Pending Proposals and Emerging Issues Confronting Regulators, Standard Setters, and the Economy,” held by the Capital Markets and Government Sponsored Enterprises…
PCAOB Listens to Rotation Panels
State Board Report April 2012 The first of what may be several public meetings on auditor independence and audit firm rotation was held by the Public Company Accounting Oversight Board on March 21-22 in Washington, D.C. Opinions expressed about the PCAOB’s concept release ranged from investor groups endorsing mandatory rotation of audit firms after a…
PCAOB Considers Names on Reports
State Board Report November 2011 As promised by Public Company Accounting Oversight Board Chair James Doty this summer, the PCAOB has sent out another group of proposals aimed at giving investors more information about what auditors do. In PCAOB Release No. 2011-007, released on October 11, amendments are proposed to require accounting firms registered with…
Doty Says PCAOB to Underscore State Board Compliance
State Board Report November 2011 The Public Company Accounting Oversight Board will be explicitly reminding their newly registered auditing firms that registration with the PCAOB does not supersede licensing requirements that apply in the jurisdictions where they engage in practice, PCAOB Chair James R. Doty assured the State Boards in his keynote address at NASBA’s…
PCAOB Holds Roundtable on Auditor’s Report
State Board Report October 2011 A roundtable discussion on how the Public Company Accounting Oversight Board can improve the relevance and usefulness of auditors’ reporting on the results of their audits of public company financial statements was held on September 15 including 32 investors, auditors, corporate board members, financial statement preparers and academics. The discussion covered…
PCAOB Studies Audit Firm Rotation
State Board Report September 2011 Should there be a limit on the number of years a public company can use the same auditor? That is one of the basic questions raised by the Concept Release on Auditor Independence and Audit Firm Rotation (PCAOB Release No. 2011-006) issued by the Public Company Accounting Oversight Board on August…
TX Board Alerts SEC Chair
State Board Report July 2011 The Texas Board of Public Accountancy has continued its investigation into non-U.S. accountancy firms working in Texas in violation of the Texas Public Accountancy Act and has informed SEC Chairman Mary L. Schapiro and PCAOB Chairman James R. Doty of its findings. As of July 7, the Texas Board had…