The US Public Company Accounting Oversight Board is meeting today to consider the proposed rules for oversight of non-US firms that work with US-listed clients.
The board is likely to adopt a system that would see a sliding scale of reliance on the oversight procedures of the firm’s home country, depending on the robustness of their procedures.
But the rules must be endorsed by the US Securities and Exchange Commission within the maximum 45 days it is allowed, if the rules are to be finalised before the 19 July deadline for firms to register with the PCAOB.
Board member Charles Niemeier has said that it would consider further extensions to the deadline if they were needed.
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
Six new partners have been revealed by top ten firm Mazars