Roundtable on registration of foreign audit firms with PCAOB
Mar 17, 2003
The US Public Company Accounting Oversight Board will convene a roundtable meeting on 31 March 2003 at which interested persons can present their views on the effect and operation of PCAOB registration and oversight of foreign public accounting firms.
- Should foreign firms be given an extended deadline for their initial registration?
- Are there any portions of PCAOB's draft registration form that are inapplicable, or that should be modified or supplemented, for non-US applicants?
- Do any of the PCAOB's registration requirements conflict with national laws?
- In the case of non-US firms that must register because they play a 'substantial role' in the audit of a US issuer, how should 'substantial role' be defined?
- Should registered foreign public accounting firms be subject to PCAOB inspection, or could the PCAOB, in some cases, rely on home-country regulation in lieu of inspection?