This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

PCAOB Chairman addresses auditor oversight

  • PCAOB (US Public Company Accounting Oversight Board) (dark gray) Image

12 Oct 2006

Mark W. Olson, Chairman of the US Public Company Accounting Oversight Board (PCAOB), spoke on Auditor Oversight and its Implications on the Resilience of our Capital Markets at the FEE Conference on Audit Regulation in Brussels today.

Click to Download Chairman Olson's Remarks (PDF 100k). Here is an excerpt:

To illustrate the importance of regulatory coordination to the PCAOB, more than 700 of the [audit] firms registered with the PCAOB are in countries outside the United States, although they may be affiliated with large, U.S. based audit firms. As required by the Sarbanes-Oxley Act, many of these firms are registered with the PCAOB because they audit non-U.S. companies whose securities trade in U.S. markets and are required to file audited financial statements with the SEC. In addition, as also provided for in the Act, a number of other non-U.S. firms are registered because they audit or wish to audit significant non-U.S. subsidiaries of multinational U.S. companies. With respect to both categories of firms, the PCAOB continues to work closely with its foreign counterparts to optimize efficiency in the oversight of these non-US firms.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.