PracticeAuditForeign firms rush to join PCAOB

Foreign firms rush to join PCAOB

Foreign firm, including 29 from the United Kingdom, have flocked to sign up with the US Public Company Accounting Oversight Board, after earlier angry reactions to its demands.

Link: PCAOB urged to take lead on auditor independence

To date 1,319 firms have registered with PCAOB, with 465 – more than a third – being non-US firms from 76 countries around the world.

The figures were revealed by registration and inspections director Patricia Thompson, who said more firms were expected to do so, even though the official deadline for registration passed on 19 July, WebCPA reported.

Besides the 29 UK firms that have registered, a total of 47 Canadian accounting firms have registered along with 24 from Australia.

Other countries with high numbers of registrants include Hong Kong (20), France (19), India (19), Germany (16), and China (10).

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