Tag Archives: PCAOB

SHARE: The Public Company Accounting Oversight Board, under its current rules, must allow a witness the assistance of an accounting expert when such an expert could assist counsel at an investigative interview, the US Court of Appeals for the District of Columbia decided on March 23 in the case of Mark E. Laccetti v. Securities…

SHARE: William D. Duhnke, III, was sworn in as chairman of the Public Company Accounting Oversight Board on January 2. Prior to coming to the PCAOB, Mr. Duhnke was the majority staff director and general counsel to the U.S. Senate Committee on Rules and Administration, chaired by Richard C. Shelby. He joined Senator Shelby’s staff…

SHARE: NASBA Executive Vice President and COO Colleen Conrad represented NASBA at the Public Company Accounting Oversight Board’s 11th annual International Institute on Audit Regulation, held December 7-8 in Washington, D.C. Participants included approximately 75 officials from audit regulators in 39 non-U.S. jurisdictions along with 10 officials from international organizations. PCAOB Member Lewis H. Ferguson…

SHARE: State Board Report December A year ago the PCAOB began an information outreach consistent with what other regulators are considering and there is nothing that researchers have seen that would act as an impediment to using data analytics for audits, Patrick McNamee, Deputy Chief Auditor of the PCAOB told the Baruch/CPT conference. He said…

SHARE: State Board Report November We are in the fourth industrial revolution, NASBA Regulatory Response Committee Chair W. Michael Fritz said as he introduced an Annual Meeting panel looking at how technology is currently changing the profession. A. Michael Smith, national leader of PricewaterhouseCooper’s US Internal Technology Audit Services Practice, commented, “The use of blockchain…

New, Improved Quarterly Enforcement Reports In July and September, NASBA released to Executive Directors the Quarterly Enforcement Report for the second and third quarters of 2017, respectively. The report compiles information from federal agencies regarding disciplinary and enforcement matters involving CPAs or CPA firms that might be of interest to boards. It includes information gathered…

SHARE: State Board Report September Comment letters on two PCAOB rulemaking proposals, one on auditing accounting estimates and the other on the auditor’s use of specialists, have been submitted by NASBA, and can be found on www.nasba.org. The two proposals (PCAOB Release No. 20017-002 Proposed Auditing Standard- Auditing Accounting Estimates, Including Fair Value Measurements and…

SHARE: State Board Report June 2017 Common projects and concerns were discussed at a meeting on May 18 of Public Company Accounting Oversight Board Members and NASBA representatives. NASBA Chair Telford Lodden (IA), President and CEO Ken Bishop and Executive Vice President and COO Colleen Conrad summarized NASBA’s activities for PCAOB Chair James R. Doty…

SHARE: State Board Report May 2017 KPMG’s discovery that it had received advance information of which engagements would be inspected by the Public Company Accounting Oversight Board led to its firing of five partners, plus another staff member, and contacting both the Securities and Exchange Commission and the Public Company Accounting Oversight Board. One of…

State Board Report April 2017 U.S. Senators Jack Reed (D-RI) and Chuck Grassley (R-IA) reintroduced the PCAOB Enforcement Transparency Act on March 21. This bill would allow the Public Company Accounting Oversight Board to make public the disciplinary proceedings it has brought against auditors and audit firms earlier in their process. The Senators cite the…