PracticeAccounting FirmsDelays hit US inspection of Big Four

Delays hit US inspection of Big Four

The new US accountancy watchdog had admitted delays in its inspection schedule, causing it to fall short with its annual review of the Big Four as mandated in Sarbanes-Oxley.

Link: US oversight board gets temporary head

The Public Company Accounting Oversight Board blamed the hold-up on delays in appointing a chairman and in finding 100 inspectors to perform the task of reviewing the country’s largest auditors.

Acting chairman Charles Niemeier said it wants ‘to do a full inspection of PwC’ by the end of the year, the Financial Times reported. The other Big Four firms will have incomplete reviews of their work by January 2004.

The five members of the Oversight Board must be appointed by the Securities and Exchange Commission. The controversial appointment of its first chairman William Webster, last year led to the resignation of SEC chairman Harvey Pitt followed by Webster’s resignation a few days later.

Related Articles

Productive accountancy firms lead the way

Accounting Firms Productive accountancy firms lead the way

2d Simon Adcock, HSBC
LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

Accounting Firms LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

3d Fergus Payne, Lewis Silkin
BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

1w Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

2w Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

2w Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

3w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

3w Emma Smith, Managing Editor