PCAOB puts non-US proposals out for comment

PCAOB puts non-US proposals out for comment

The US Public Company Accounting Oversight Board has voted unanimously to put out for public comment its proposed rules relating to the inspection and investigation of non-US audit firms.

Link: PCAOB demands accounting fees

At a meeting yesterday in Washington DC the board also agreed to extend the registration deadline for non-US firms by a further 90 days. Auditors who now work for clients with a listing in the US now have until 19 July 2004 to register with the board.

The proposals allow for a degree of co-operation between the board and the oversight bodies of other nations, following massive opposition to the extra-territorial effects of the Sarbanes-Oxley Act from the European Union.

The board has acknowledged these concerns and has proposed relying on the oversight systems of other nations where those systems are sufficiently independent and rigorous. It is hoped the UK firms would be affected very little by the rules, due to the strong oversight it possesses.

Share

Resources & Whitepapers

The importance of UX in accounts payable: Often overlooked, always essential
AP

The importance of UX in accounts payable: Often overlooked, always essentia...

1y Kloo

The importance of UX in accounts payable: Often ov...

Embracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...

View article
The power of customisation in accounting systems
Accounting Software

The power of customisation in accounting systems

1y Kloo

The power of customisation in accounting systems

Organisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...

View article
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

4y Accountancy Age

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
8 Key metrics to measure to optimise accounts payable efficiency
AP

8 Key metrics to measure to optimise accounts payable efficiency

1y Kloo

8 Key metrics to measure to optimise accounts paya...

Discover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...

View article