More than 500 firms meet PCAOB deadline
The Public Company Accounting Oversight Board has revealed that it has approved 598 accounting firms to audit US listed companies.
The number was revealed after the board’s deadline for registration passed yesterday. From now on all auditors based in the US will have to be registered with the PCAOB in order to undertake work with public companies.
Audit firms based outside the US that work with US-listed clients still have until April to register.
‘Registration is a prerequisite for accounting firms to continue their work as auditors of public companies,’ said PCAOB chairman William McDonough. ‘It is also the foundation, established in the Sarbanes-Oxley Act, for the PCAOB to perform its important functions of inspection and enforcement.’