Public Company Accounting Oversight Board (PCAOB)

The United States Public Company Accounting Oversight Board (PCAOB) is a private-sector, non-profit corporation, created by the Sarbanes-Oxley Act of 2002, to oversee the auditors of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, fair, and independent audit reports. The Board is funded principally by fees from public companies. The costs of processing and reviewing public accounting firm registration applications is recovered from registration fees paid by those firms.

The PCAOB has four primary responsibilities:

  • registration of accounting firms (including non-US firms) that audit public companies (including non-US issuers) trading in US securities markets;
  • inspections of registered public accounting firms;
  • establishment of auditing and related attestation, quality control, ethics, and independence standards for registered public accounting firms; and
  • investigation and discipline of registered public accounting firms and their associated persons for violations of specified laws or professional standards.

 

This page focuses on the relationship of the PCAOB to non-US issuers registered in the United States and non-US audit firms.

Contact information

US Public Company Accounting Oversight Board
1666 K Street, NW
Washington, DC 20006-2803

Phone: +1 (202) 207-9100
Fax: +1 (202) 862-8430
Email: info @ pcaobus.org
Website: http://www.pcaobus.org

 

Related news

  • PCAOB releases 2011 annual report

  • May 11, 2012

  • The 2011 Annual Report of the US Public Company Accounting Oversight Board (PCAOB) reports that 2,388 firms were registered with the PCAOB, including 908 non-U.S. firms located in 88 jurisdictions.

  • US PCAOB strategic plan 2011-2015

  • Dec 01, 2011

  • The United States Public Company Accounting Oversight Board (PCAOB) has published its Strategic Plan to guide the Board's programs and operations during the period 2011-2015.

  • Japan and US regulators enter into an exchange of letters

  • Oct 12, 2011

  • The Public Company Accounting Oversight Board of the United States (PCAOB) has entered into a cooperative agreement with the Japan Financial Services Agency (JFSA) and Certified Public Accountants and Auditing Oversight Board (CPAAOB) of Japan.

  • Audit alert on audit risks in certain emerging markets

  • Oct 03, 2011

  • The US Public Company Accounting Oversight Board (PCAOB) has issued a Staff Audit Practice Alert to discuss the auditor's responsibilities regarding the risk of fraud when auditing companies with operations in emerging markets.

  • Norway and US regulators enter into a cooperative agreement

  • Sep 14, 2011

  • The Financial Supervisory Authority of Norway (Finanstilsynet) and the Public Company Accounting Oversight Board of the United States (PCAOB) have entered into a cooperative agreement, which "provides a basis for the resumption of joint inspections of PCAOB-registered accounting firms that are located in Norway and that audit, or participate in audits, of companies whose securities trade in U.S. markets".

  • PCAOB explores mandatory audit firm rotation

  • Aug 17, 2011

  • The United States Public Company Accounting Oversight Board (PCAOB) has issued a concept release to solicit public comment on ways that auditor independence, objectivity and professional scepticism can be enhanced, including through mandatory rotation of audit firms.

  • PCAOB releases 2010 Annual Report

  • Jun 23, 2011

  • The 2010 Annual Report of the US Public Company Accounting Oversight Board (PCAOB) reports that 2,397 firms were registered with the PCAOB, including 894 non-U.S. firms located in 86 jurisdictions.

  • Swiss and US regulators reach a statement of protocol agreement

  • Apr 06, 2011

  • The Swiss Federal Audit Oversight Authority and Financial Market Supervisory Authority and the Public Company Accounting Oversight Board of the United States (PCAOB) have entered into a Statement of Protocol, establishing a cooperative framework for supervisory oversight of auditors that practice in each country.

  • US and UK regulators reach an information sharing agreement

  • Jan 10, 2011

  • The United Kingdom's Professional Oversight Board (POB), a part of the FRC, and the Public Company Accounting Oversight Board of the United States (PCAOB) have signed an information sharing agreement aimed at increasing the cooperation on the oversight and inspection of audit firms.

  • PCAOB staff comments at AICPA National Conference

  • Dec 08, 2010

  • Further to our story yesterday about the United States SEC comments at a recent AICPA National Conference, the Public Company Accounting Oversight Board (PCAOB) has also now released transcripts of speeches made by its staff at the conference.

  • PCAOB issues release on consideration of registration applications

  • Oct 07, 2010

  • The US Public Company Accounting Oversight Board (PCAOB) has issued a press release on consideration of registration applications from public accounting firms in non-U.S. jurisdictions, where inspections of PCAOB-registered firms are hindered by asserted legal restrictions or objections of local authorities.

  • PCAOB Announces Standing Advisory Group Meeting

  • Oct 01, 2010

  • The Standing Advisory Group (SAG) of the Public Company Accounting Oversight Board (PCAOB) will hold a meeting on 13-14 October 2010, to discuss developments affecting the PCAOB.

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