Tag Archives: PCAOB

SHARE: Earlier this year, Sen. Elizabeth Warren, D-Massachusetts, and Senate Finance Committee Chairman Ron Wyden, D-Oregon, asked the Public Company Accounting Oversight Board (PCAOB) to ramp up regulations on the audits of cryptocurrency companies after high-profile companies like FTX recently went bankrupt.   In a letter to PCAOB Chair Erica Williams, they highlighted the insufficient ‘proof…

SHARE: In May 2022, NASBA Past Chair Diane Rubin, CPA, was appointed to the newly formed Public Accounting Oversight Board (PCAOB) Standards and Emerging Issues Advisory Group (SEIAG). According to a recent PCAOB announcement, the SEIAG was established to advise on existing standards, proposed Diane Rubin standards, potential new standards, and emerging issues that are…

SHARE: The Securities and Exchange Commission recently announced the appointments of Erica Y. Williams as chairperson and Christina Ho, Kara M. Stein, and Anthony (Tony) C. Thompson as Board members of the Public Company Accounting Oversight Board (PCAOB). The Commission confirmed that Duane DesParte will continue his service as a Board member and will remain…

SHARE: There were many deaths during 2020, including the passing of NASBA Chair 1995-96 Ronnie Rudd (TX), but there was another death of particular significance to the State Boards. Former Senator Paul S. Sarbanes (MD-D), who crafted the “Public Company Accounting Reform and Investor Protection Act” (the Sarbanes-Oxley Act) of 2002 with Representative Michael G.…

SHARE: The inclusion of sustainability information in financial reports has been getting additional interest in recent months as the International Integrated Reporting Council (IIRC) announced its plans to merge with the Sustainability Accounting Standards Board (SASB) to become the Value Reporting Foundation in mid-2021. Their goal is to have an integrated reporting framework with sustainability…

SHARE: Is the Public Company Accounting Oversight Board studying the right issues? PCAOB Member J. Robert Brown, Jr., has challenged the Board’s updated research and standard-setting agendas that were released in September. While the PCAOB added auditor independence to their standard-setting agenda and an audit evidence project to their research agenda, they dropped going concern…

SHARE: As promised by Public Company Accounting Oversight Board Chair William Duhnke at December’s Center for the Public Trust (CPT)/Baruch Conference, the PCAOB has issued a concept release on its quality control standards to reflect relevant developments affecting audit and assurance practices and firms’ quality control systems. NASBA’s Regulatory Response Committee, chaired by W. Michael…

SHARE: The Public Company Accounting Oversight Board has reaffirmed its strategic plan, which commits the Board to transforming itself “into a trusted leader that promotes high quality auditing through forward-looking, responsive, and innovative oversight,” PCAOB Chair William D. Duhnke told Baruch College’s 14th Annual Audit Conference, cosponsored by the NASBA Center for the Public Trust,…

SHARE: The Public Company Accounting Oversight Board will release standards for the use of big data and emerging technology — but not yet. They are still in the research stage, PCAOB Chief Auditor Megan Zietsman reported to the NASBA Annual Meeting. She explained that before the PCAOB develops any standards they want to do a…

SHARE: The US House of Representatives passed H.R. 3625, the “PCAOB Whistleblower Protection Act of 2019,” on September 19, which would reward as well as protect an individual who provides the Public Company Accounting Oversight Board with information relating to a violation of the Sarbanes Oxley Act of 2002, the rules of the PCAOB, or…