Tag Archives: Public Company Accounting Oversight Board
China Info Access Problem Continues
SHARE: Despite the Public Company Accounting Oversight Board’s having arranged cooperative agreements with foreign regulators to share inspection results, it has not been able to inspect the audit work and practices of PCAOB-registered auditing firms in China with respect to their audit work of US-listed companies with operations in China. On December 7, SEC Chairman…
FRC Increases Fines
SHARE: As of June 1, the United Kingdom’s Financial Reporting Council (FRC) will be applying an updated sanctions policy for audit firms based on the recommendations from an independent review. That panel had drawn on the Public Company Accounting Oversight Board’s experience in imposing combined financial and non-financial penalties. Included in the adopted recommendations are:…