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PCAOB and German audit regulator enter into cooperative agreement

  • PCAOB (US Public Company Accounting Oversight Board) Image

Aug 25, 2016

The German audit regulator, the Auditor Oversight Body (AOB), and the PCAOB have entered into a cooperative agreement related to “the oversight of audit firms subject to the regulatory jurisdictions of both regulators.”

The agreement, which is effective immediately, allows the two regulators to exchange confidential information regarding firms operating in both jurisdictions and is intended to enhance their supervisory oversight, inspections, and investigations of the firms.

The PCAOB and AOB also signed a data protection agreement to ensure that they comply with national data protection requirements when transferring information. For more information, see the press release, statement of protocol, and data agreement on the PCAOB’s Web site.

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