Remarks of PCAOB Board Member Steven B. Harris at the NYSSCPA SEC Conference

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Oct 26, 2016

On October 26, 2016, the Public Company Accounting Oversight Board (PCAOB) posted a speech, "Current Priorities of the PCAOB," given by PCAOB Board Member Steven B. Harris on October 25, 2016, at the SEC Conference held by the New York State Society of CPAs in New York.

In his speech, he discusses some of the current priorities of the PCAOB, a number of which are outlined in the Board's five year strategic plan.

The topics discussed are as follows:

Role of the Independent Auditor

  • Investors are the Auditor's True Client
  • Re-emergence of Concerns about Auditor Independence
  • State of Audit Quality
  • Improper Alteration of Audit Documentation
  • PCAOB's Standard-Setting Activities
  • Auditor's Reporting Model
  • Technological Innovation in the Audit

In his conclusion, he encourages auditors to strive to improve audit quality, be vigilant in protecting independence from management, and not lose sight that the client is the investing public.

Review the speech on the PCAOB's website.

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