PracticeAuditExperts to advice PCAOB on standards

Experts to advice PCAOB on standards

The US accountancy watchdog has announced the formation of a group that aims to help the board with standards setting.

Link: PCAOB approves non-US deadline extension

The Public Company Accounting Oversight Board said that the group, made up of 30 experts in variuos financial fields, will give its advice to the board on standard-setting priorities and the policy implications of existing and proposed standards.

The group, which the PCAOB hopes will bring a ‘multi-disciplined approach’ to its standards-setting process, will be chaired by the board’s chief auditor Doug Carmichael.

Other members of the group include former Securities and Exchange Commission chief accountant Lynn Turner; Barbara Roper director of investor protection for the Consumer Federation of America and partners from the Big Four.

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