Tag Archives: PCAOB

NASBA Meets with PCAOB

State Board Report September 2014 The Public Company Accounting Oversight Board met with NASBA Chair Carlos E. Johnson (OK), Past Chair Gaylen R. Hansen (CO), Director-at-Large Donald H. Burkett (SC), President Ken L. Bishop and Executive Vice President Colleen Conrad on August 12, 2014, in Washington, D.C. PCAOB members James R. Doty (Chairman), Lewis H.…

Written on September 12, 2014 at 1:29 pm, by

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PCAOB Members Differ on “Audit Failures”

State Board Report May 2014 Members of the Public Company Accounting Oversight Board seem to disagree over how reporting errors are described. The PCAOB’s use of the term “audit failures” in its inspection findings reports was questioned by PCAOB Board Member Jay D. Hanson in an address to the Pharma/Biotech Accounting & Reporting Congress on…

Written on May 16, 2014 at 1:50 pm, by

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PCAOB Re-Proposes Partner Signatures

State Board Report December 2013 In 2005 the Public Company Accounting Oversight Board’s Standing Advisory Committee began discussing the need for disclosing the name of the audit partner in the auditor’s report. After much study, analysis and discussion, the PCAOB has again released for public comment amendments to the PCAOB’s auditing standards that would require…

Written on January 6, 2014 at 8:39 pm, by

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Baumann Speaks at CPT/Baruch Conference

State Board Report December 2013 The train is on the track for changing the auditor’s report, according to multiple speakers at Baruch College’s Eighth Annual Auditing Conference, cosponsored by the NASBA Center for the Public Trust, held December 5, 2013 in New York City. Martin F. Baumann, the Public Company Accounting Oversight Board’s Chief Auditor,…

Written on January 6, 2014 at 8:07 pm, by

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NASBA Comments on “Proposed Auditing Standards” – PCAOB Rulemaking Docket No. 34

Written on December 10, 2013 at 7:53 pm, by

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Franzel Summarizes PCAOB’s Work

State Board Report November 2013 Describing the addition of critical audit matters (CAM) to the auditor’s report as “a drastic change to a very standard report that has been unchanged for about 70 years,” Public Company Accounting Oversight Board Member Jeanette M. Franzel, CPA, called the Annual Meeting audience’s attention to the provisions of the…

Written on December 2, 2013 at 8:01 pm, by

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PCAOB Proposes Expanded Auditor’s Report

State Board Report September 2013 While retaining the pass/fail model of the auditor’s report, the Public Company Accounting Oversight Board is proposing standards that would require the auditor to communicate a wider range of information specific to the particular audit. At their August 13, 2013 meeting, the PCAOB members unanimously voted to approve the release…

Written on September 19, 2013 at 6:42 pm, by

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PCAOB Meets with NASBA Leaders

State Board Report June 2013 On May 1, a delegation of NASBA leaders, including Chair Gaylen Hansen, President Ken Bishop, Vice Chair Carlos Johnson and Executive Vice President Colleen Conrad, met with all the members of the Public Company Accounting Oversight Board in their Washington, D.C., office to formalize the relationship between the organizations. President…

Written on June 24, 2013 at 2:42 pm, by

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PCAOB Bill Reintroduced

State Board Report May 2013 A bill that would make the Public Company Accounting Oversight Board’s (PCAOB) disciplinary proceedings more open to the public was reintroduced by U.S. Senators Jack Reed (D-RI) and Chuck Grassley (R-IA) on April 26 as the “PCAOB Enforcement Transparency Act of 2013.” The bill would make the PCAOB’s hearings, and…

Written on May 17, 2013 at 4:26 pm, by

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PCAOB Decries Continuing Deficiencies

State Board Report March 2013 Significant audit deficiencies are down, but a long way from gone, according to the latest report based on the Public Company Accounting Oversight Board’s inspections. In its “Report on 2007-2010 Inspections of Domestic Firms that Audit 100 or Fewer Public Companies,” released on February 25, the PCAOB says the triennial…

Written on March 18, 2013 at 2:27 pm, by

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