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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. Ferguson, Jeanette M. Franzel, Jay D. Hanson and Steven B. Harris were all in attendance. As was done at their last joint meeting in May 2013, both organizations gave updates on their activities. There was a comprehensive discussion of NASBA’s standard setting monitoring initiative and the NASBA representatives also described recent consideration of international pathways for licensure.

The PCAOB discussed their interest in broker/dealer issues and the work of their Fraud Task Force. Among the other PCAOB projects addressed was their effort to require the disclosure of the name of the engagement partner and other firms involved in an audit.

NASBA reiterated its interest in participation in an official capacity in the PCAOB’s Standing Advisory Group and international bodies such as the International Forum of Independent Audit Regulators (IFIAR) and other meetings of regulators.

PCAOB Chairman Doty will speak at the NASBA Annual Meeting in Washington, D.C.

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