PCAOB approves non-US deadline extension
The US Public Company Accounting Oversight Board has agreed to extend the deadline for the registration of non-US firms by an extra three months.
The decision was confirmed at yesterday’s board meeting, which also finalised the standard relating to audits of internal control. Non-US firms now have until 19 July to register with the board, as opposed to the previous deadline of 19 April.
The PCAOB has yet to discuss the other rules relating to the oversight procedures on non-US firms, which would see the board use a sliding-scale measurement of reliance on a home nation’s oversight system, depending on its judgement of the robustness of that system.