Update for Audit Committee Members

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Update for Audit Committee Members"

Transcription

1 Headquarters Office: 1250 Headquarters Plaza West Tower, 7 th Floor Morristown, NJ Government Affairs Office: 1825 K Street, NW Suite 510 Washington, D.C Today s Webcast Presentation, Update for Audit Committee Members Presented by Financial Executives International will begin shortly interaction information influence integrity

2 Headquarters Office: 1250 Headquarters Plaza West Tower, 7 th Floor Morristown, NJ Government Affairs Office: 1825 K Street, NW Suite 510 Washington, D.C Housekeeping If you experience technical difficulties, please use: use the Ask a Question Tab or use the Help Tab or call or Experiencing difficulty hearing today's broadcast? Dial-in: (Toll Free) (Int l) Passcode: Use the Download Tab below to download a handout of the today s presentation. Use the Ask a Question Tab to ask questions at any time during the presentation. Questions will be addressed at the end of the presentation. interaction information influence integrity

3 Headquarters Office: 1250 Headquarters Plaza West Tower, 7 th Floor Morristown, NJ Government Affairs Office: 1825 K Street, NW Suite 510 Washington, D.C CPE Credit Today s webcast is worth one (1.0) CPE credits. To qualify for CPE, one must have registered via FEI s website, as well as, meet both duration, poll requirements and complete an on-line evaluation survey. In accordance with the standards for the National Registry of CPE Sponsors, CPE credit will be granted based on a 50-minute hour. You must answer at least 3 polling questions (during the webcast) to qualify for CPE credit. Qualifying participants will have access to the NASBA required evaluation survey, in FEI s CPE Center, within 2-3 business days and the online certificate for CPE credit is available immediately upon completion of this survey. Additional information will be provided in a follow-up after today s webcast. interaction information influence integrity

4 UPDATE FOR AUDIT COMMITTEE MEMBERS Jay D. Hanson, PCAOB Board Member Webcast for Financial Executives International August 8,

5 Disclaimer The views I express are mine and do not necessarily reflect the views of the PCAOB, other Board members, or members of the Board s staff. 5

6 PCAOB Overview The PCAOB has four basic functions under the Act: Registration and reporting of accounting firms Inspections of firms and their audit engagements Annual and triennial inspections issuers Interim program brokers and dealers Investigation and disciplinary proceedings Establishing auditing, quality control, ethics, independence, and other standards 6

7 Information for Audit Committees About the PCAOB Inspection Process* PCAOB cannot share non-public portions of reports with audit committees or others; cannot force auditors to share information Beyond the public portion of the report, voluntary disclosure by the auditor is an audit committee s only means of obtaining information Release explains PCAOB process and Board view on certain frequent firm responses; proposes questions audit committees may want to pose to auditors Preparers also may be affected: Auditor may need to do more audit work to respond to deficiency (AU sec. 390); Questions may be raised about the fairness of the financial statements or the adequacy of the disclosures; or PCAOB communicates issuer specific information to SEC 7 *Board release issued Aug. 1, 2012

8 AS Communications with Audit Committees 8 The Board adopted Auditing Standard No. 16, Communications with Audit Committees, on August 15, The new standard was effective for public company audits of fiscal years beginning on or after Dec. 15, New requirements anchored to an existing requirement for a communication or an audit procedure AS 16 title is Communications with Audit Committees -- goal is effective two-way communication between auditor and audit committee Certain new required communications, but standard does not preclude the auditor from providing additional information to the audit committee

9 AS Communications with Audit Committees cont d The objectives of the auditor are to: Communicate to the AC the responsibilities of the auditor in relation to the audit and establish an understanding of the terms of the engagement with the AC; Obtain information from the AC relevant to the audit; Communicate to the AC an overview of the overall audit strategy and timing of the audit; and Provide the AC with timely observations arising from the audit that are significant to the financial reporting process. Understanding re. audit services must be with audit committee (consistent with SOX); written engagement letter required 9 Timing communications before issuance of audit report

10 10 AS Communications with Audit Committees cont d Communications required regarding: Company s accounting policies, practices, and estimates; Auditor s evaluation of the quality of the company s financial reporting; Significant unusual transactions Significant accounting or auditing matters where management consulted with other accountants Additional inquiries of audit committee re. matters relevant to the audit, including violations or possible violations of laws or regulations New communication requirements regarding significant aspects of audit, including e.g. audit strategy, specialized skills, consultations, going concern, etc.

11 Inspection Observations - Impact Review compliance with laws, standards and rules in engagements; review firm quality control systems To help firms improve audit performance and quality control Inform PCAOB risk analysis for future inspections issuer, industry, audit area, firm, office, partner Inform PCAOB staff audit practice alerts Inform PCAOB standard setting 11

12 Inspection Observations - ICFR* Testing controls re. risk of material misstatement Testing design and operating effectiveness of management review controls Testing controls from an interim date to the company s year-end (the roll-forward period) Testing controls that depend upon systemgenerated data and reports Procedures regarding the use of the work of others *Observations from 2010 Inspections of Domestic Annually Inspected Firms Regarding Deficiencies in Audits of Internal Control over Financial Reporting, Dec. 10,

13 Inspection Observations Triennial Firms* Revenue Internal control testing Estimates: Fair value Reserves and asset impairments Allowance for loan losses Substantive analytical procedures Equity transactions Use of specialists *Report on Inspections of Domestic Firms that Audit 100 or Fewer Public Companies, Feb. 25,

14 Standard Setting Agenda* Recent Actions: Framework for Reorganization of PCAOB Standards analyzing comments. Related Parties re-proposed; comment period ended July 8, 2013 July to December 2013 Auditor s Reporting Model proposal expected soon Auditors' Responsibilities with Respect to Other Accounting Firms, Individual Accountants, and Specialists proposal expected Audit Transparency: Identification of the Engagement Partner and Other Public Accounting Firms or Persons that are Not Employed by the Auditor but Participate in the Audit adoption or re-proposal expected Possible July to December 2013 Audits of Brokers and Dealers (timing dependent on SEC) adoption or re-proposal expected Going Concern proposal expected 14 *As of June 30, 2013

15 Standard Setting Agenda, cont d Other Active Projects Quality Control Standards, Including Assignment and Documentation of Firm Supervisory Responsibilities -- concept release expected Auditing Accounting Estimates, Including Fair Value Measurements and Related Disclosures proposal expected Auditor Independence, Objectivity, and Professional Skepticism next steps under consideration Confirmation re-proposal expected 15

16 Auditor Independence and Audit Firm Rotation On August 16, 2011, Board issued a concept release to solicit public comment on ways that auditor independence, objectivity, and professional skepticism could be enhanced, including through mandatory rotation of audit firms. The concept release invited commenters to respond to specific questions, including, for example, whether the Board should consider a rotation requirement only for audit tenures of more than 10 years or only for the largest issuer audits. The concept release also seeks comment on whether there are other measures that could meaningfully enhance auditor independence, objectivity, and professional skepticism. Board has held three round tables (DC, San Francisco, Houston); will evaluate comments and consider need for and scope of potential measures to enhance independence, objectivity, professional skepticism 16

17 Auditor s Reporting Model On June 21, 2011, Board issued a concept release on possible changes to the auditor s reporting model. Followed extensive outreach by staff of the Office of the Chief Auditor from October 2010 through March 2011 with investors, auditors, preparers, audit committee members, and others. The concept release discusses four alternatives for changing the auditor s reporting model: Auditor s discussion and analysis Required and expanded use of emphasis paragraphs Auditor assurance on other information outside the financial statements, and Clarification of language in the standard auditor s report) Board hosted a roundtable on September 15, 2011 to discuss the alternatives in the concept release. Comment period ended September 30, 2011; over 150 comment letters received. Board is evaluating comments, monitoring IAASB developments, and developing proposed standard (proposal expected soon) 17

18 Other Activities Board Near Term Priorities Inspection reports Remediation Audit quality indicators Audit Committee outreach Economic Analysis 18

19 Questions?

20 Headquarters Office: 1250 Headquarters Plaza West Tower, 7 th Floor Morristown, NJ Government Affairs Office: 1825 K Street, NW Suite 510 Washington, D.C Thank you for your participation! In 2-3 business days, a follow-up will provide instructions on accessing the survey evaluation tool and CPE credit. interaction information influence integrity

STANDARD-SETTING AGENDA OFFICE OF THE CHIEF AUDITOR DECEMBER 31, 2014

STANDARD-SETTING AGENDA OFFICE OF THE CHIEF AUDITOR DECEMBER 31, 2014 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202)862-8430 http://www.pcaobus.org STANDARD-SETTING AGENDA OFFICE OF THE CHIEF AUDITOR DECEMBER 31, 2014 The Public Company

More information

IFIAR 2015 Member Profile - PCAOB

IFIAR 2015 Member Profile - PCAOB Jurisdiction United States of America (USA) 1. Organization Insert the name of the Organization, both in the local language and in English: Public Company Accounting Oversight Board ( PCAOB ) Include relevant

More information

Inspection Observations Related to PCAOB "Risk Assessment" Auditing Standards (No. 8 through No.15)

Inspection Observations Related to PCAOB Risk Assessment Auditing Standards (No. 8 through No.15) 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org Inspection Observations Related to PCAOB "Risk Assessment" Auditing Standards (No. 8 through

More information

) ) ) ) ) ) ) ) ) ) ) )

) ) ) ) ) ) ) ) ) ) ) ) 1666 K Street, NW Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org AUDITING STANDARD No. 16 COMMUNICATIONS WITH AUDIT COMMITTEES; RELATED AMENDMENTS TO PCAOB STANDARDS;

More information

STAFF AUDIT PRACTICE ALERT NO. 5 AUDITOR CONSIDERATIONS REGARDING SIGNIFICANT UNUSUAL TRANSACTIONS. April 7, 2010

STAFF AUDIT PRACTICE ALERT NO. 5 AUDITOR CONSIDERATIONS REGARDING SIGNIFICANT UNUSUAL TRANSACTIONS. April 7, 2010 1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202)862-8430 www.pcaobus.org STAFF AUDIT PRACTICE ALERT NO. 5 AUDITOR CONSIDERATIONS REGARDING SIGNIFICANT UNUSUAL TRANSACTIONS

More information

REPORT ON 2007-2010 INSPECTIONS OF DOMESTIC FIRMS THAT AUDIT 100 OR FEWER PUBLIC COMPANIES

REPORT ON 2007-2010 INSPECTIONS OF DOMESTIC FIRMS THAT AUDIT 100 OR FEWER PUBLIC COMPANIES 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org REPORT ON 2007-2010 INSPECTIONS OF DOMESTIC FIRMS THAT AUDIT 100 OR FEWER PUBLIC COMPANIES PCAOB

More information

OBSERVATIONS FROM 2010 INSPECTIONS OF DOMESTIC ANNUALLY INSPECTED FIRMS REGARDING DEFICIENCIES IN AUDITS OF INTERNAL CONTROL OVER FINANCIAL REPORTING

OBSERVATIONS FROM 2010 INSPECTIONS OF DOMESTIC ANNUALLY INSPECTED FIRMS REGARDING DEFICIENCIES IN AUDITS OF INTERNAL CONTROL OVER FINANCIAL REPORTING 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org OBSERVATIONS FROM 2010 INSPECTIONS OF DOMESTIC ANNUALLY INSPECTED FIRMS REGARDING DEFICIENCIES

More information

Webinar: PCAOB Inspections of Small Firm Broker-Dealer Auditors. January 15, 2015

Webinar: PCAOB Inspections of Small Firm Broker-Dealer Auditors. January 15, 2015 Webinar: PCAOB Inspections of Small Firm Broker-Dealer Auditors January 15, 2015 Introductory Remarks Mary Sjoquist, Director Office of Outreach and Small Business Liaison Caveat The views we express today

More information

Report on. 2009 Inspection of PricewaterhouseCoopers LLP. Public Company Accounting Oversight Board

Report on. 2009 Inspection of PricewaterhouseCoopers LLP. Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2009 (Headquartered in New York, New York) Issued by the Public Company Accounting

More information

Guide to Pcaob Inspections

Guide to Pcaob Inspections Guide to Pcaob Inspections october 2012 Since 2002, a new regulator, the Public Company Accounting Oversight Board (PCAOB), has had responsibility for overseeing auditors of public companies. Regular inspections

More information

Inspection of MS Group CPA L.L.C. (Headquartered in Edison, New Jersey) Public Company Accounting Oversight Board

Inspection of MS Group CPA L.L.C. (Headquartered in Edison, New Jersey) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Inspection of MS Group CPA L.L.C. (Headquartered in Edison, New Jersey) Issued by the Public

More information

STANDING ADVISORY GROUP MEETING

STANDING ADVISORY GROUP MEETING 1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202)862-8430 www.pcaobus.org STANDING ADVISORY GROUP MEETING AUDIT CONFIRMATIONS APRIL 2, 2009 Introduction Confirmations

More information

STAFF AUDIT PRACTICE ALERT NO. 11 CONSIDERATIONS FOR AUDITS OF INTERNAL CONTROL OVER FINANCIAL REPORTING. October 24, 2013

STAFF AUDIT PRACTICE ALERT NO. 11 CONSIDERATIONS FOR AUDITS OF INTERNAL CONTROL OVER FINANCIAL REPORTING. October 24, 2013 1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202)862-8430 www.pcaobus.org STAFF AUDIT PRACTICE ALERT NO. 11 CONSIDERATIONS FOR AUDITS OF INTERNAL CONTROL OVER FINANCIAL

More information

STAFF AUDIT PRACTICE ALERT NO. 6 AUDITOR CONSIDERATIONS REGARDING USING THE WORK OF OTHER AUDITORS AND ENGAGING ASSISTANTS FROM OUTSIDE THE FIRM

STAFF AUDIT PRACTICE ALERT NO. 6 AUDITOR CONSIDERATIONS REGARDING USING THE WORK OF OTHER AUDITORS AND ENGAGING ASSISTANTS FROM OUTSIDE THE FIRM 1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202)862-8430 www.pcaobus.org STAFF AUDIT PRACTICE ALERT NO. 6 AUDITOR CONSIDERATIONS REGARDING USING THE WORK OF OTHER AUDITORS

More information

Report on. 2010 Inspection of PricewaterhouseCoopers LLP (Headquartered in New York, New York) Public Company Accounting Oversight Board

Report on. 2010 Inspection of PricewaterhouseCoopers LLP (Headquartered in New York, New York) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2010 (Headquartered in New York, New York) Issued by the Public Company Accounting

More information

Inspection of Chang G Park (Headquartered in San Diego, California) Public Company Accounting Oversight Board

Inspection of Chang G Park (Headquartered in San Diego, California) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Inspection of Chang G Park (Headquartered in San Diego, California) Issued by the Public Company

More information

AN AUDIT OF INTERNAL CONTROL OVER FINANCIAL REPORTING THAT IS INTEGRATED WITH AN AUDIT OF FINANCIAL STATEMENTS:

AN AUDIT OF INTERNAL CONTROL OVER FINANCIAL REPORTING THAT IS INTEGRATED WITH AN AUDIT OF FINANCIAL STATEMENTS: 1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org STAFF VIEWS AN AUDIT OF INTERNAL CONTROL OVER FINANCIAL REPORTING THAT IS INTEGRATED WITH AN

More information

Report on. 2011 Inspection of Kabani & Company, Inc. (Headquartered in Los Angeles, California) Public Company Accounting Oversight Board

Report on. 2011 Inspection of Kabani & Company, Inc. (Headquartered in Los Angeles, California) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2011 Inspection of Kabani & Company, Inc. (Headquartered in Los Angeles, California)

More information

Inspection of Fazzari + Partners LLP Chartered Accountants (Headquartered in Vaughan, Canada) Public Company Accounting Oversight Board

Inspection of Fazzari + Partners LLP Chartered Accountants (Headquartered in Vaughan, Canada) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Inspection of Fazzari + Partners LLP (Headquartered in Vaughan, Canada) Issued by the Public

More information

BDO Seidman, LLP Accountants and Consultants

BDO Seidman, LLP Accountants and Consultants BDO Seidman, LLP Accountants and Consultants 330 Madison Avenue New York, NY 10017 (212) 885-8000 Phone (212) 697-1299 Fax Via E-mail: comments@pcaobus.org Office of the Secretary Public Company Accounting

More information

Inspection of Jewett, Schwartz, Wolfe & Associates (Headquartered in Hollywood, Florida) Public Company Accounting Oversight Board

Inspection of Jewett, Schwartz, Wolfe & Associates (Headquartered in Hollywood, Florida) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Inspection of Jewett, Schwartz, Wolfe & Associates (Headquartered in Hollywood, Florida) Issued

More information

Report on. 2012 Inspection of B F Borgers CPA PC (Headquartered in Denver, Colorado) Public Company Accounting Oversight Board

Report on. 2012 Inspection of B F Borgers CPA PC (Headquartered in Denver, Colorado) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2012 Inspection of B F Borgers CPA PC (Headquartered in Denver, Colorado) Issued by

More information

Report on. 2010 Inspection of Gregory & Associates, LLC (Headquartered in Salt Lake City, Utah) Public Company Accounting Oversight Board

Report on. 2010 Inspection of Gregory & Associates, LLC (Headquartered in Salt Lake City, Utah) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2010 (Headquartered in Salt Lake City, Utah) Issued by the Public Company Accounting

More information

OBSERVATIONS RELATED TO THE IMPLEMENTATION OF THE AUDITING STANDARD ON ENGAGEMENT QUALITY REVIEW

OBSERVATIONS RELATED TO THE IMPLEMENTATION OF THE AUDITING STANDARD ON ENGAGEMENT QUALITY REVIEW 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org OBSERVATIONS RELATED TO THE IMPLEMENTATION OF THE AUDITING STANDARD ON ENGAGEMENT QUALITY REVIEW

More information

Forum on Auditing Smaller Broker-Dealers. June 13, 2014 Jersey City, NJ

Forum on Auditing Smaller Broker-Dealers. June 13, 2014 Jersey City, NJ Forum on Auditing Smaller Broker-Dealers June 13, 2014 Jersey City, NJ Caveat One of the benefits of today's session is that you will hear firsthand from one of the PCAOB Board members and numerous PCAOB

More information

Report on. 2013 Inspection of Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft (Headquartered in Munich, Federal Republic of Germany)

Report on. 2013 Inspection of Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft (Headquartered in Munich, Federal Republic of Germany) 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2013 (Headquartered in Munich, Federal Republic of Germany) Issued by the Public Company

More information

STANDING ADVISORY GROUP MEETING

STANDING ADVISORY GROUP MEETING 1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org STANDING ADVISORY GROUP MEETING PANEL DISCUSSION FORENSIC AUDIT PROCEDURES FEBRUARY 22, 2007

More information

STAFF GUIDANCE FOR AUDITORS OF SEC-REGISTERED BROKERS AND DEALERS JUNE 26, 2014

STAFF GUIDANCE FOR AUDITORS OF SEC-REGISTERED BROKERS AND DEALERS JUNE 26, 2014 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org STAFF GUIDANCE FOR AUDITORS OF SEC-REGISTERED BROKERS AND DEALERS JUNE 26, 2014 This publication

More information

) ) ) ) ) ) ) ) ) ) ) ) AUDITING STANDARD No. 18 RELATED PARTIES. PCAOB Release No. 2014-002 June 10, 2014

) ) ) ) ) ) ) ) ) ) ) ) AUDITING STANDARD No. 18 RELATED PARTIES. PCAOB Release No. 2014-002 June 10, 2014 1666 K Street, N.W. Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org AUDITING STANDARD No. 18 RELATED PARTIES AMENDMENTS TO CERTAIN PCAOB AUDITING STANDARDS REGARDING

More information

PCAOB Forum on Auditing Smaller Broker-Dealers

PCAOB Forum on Auditing Smaller Broker-Dealers PCAOB Forum on Auditing Smaller Broker-Dealers Kevin M. Stout Senior Associate Chief Accountant Office of the Chief Accountant U.S. Securities and Exchange Commission May 28, 2014 1 Disclaimer The Securities

More information

Inspection of Malone & Bailey, PC. Public Company Accounting Oversight Board

Inspection of Malone & Bailey, PC. Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Inspection of Malone & Bailey, PC Issued by the Public Company Accounting Oversight Board THIS

More information

Report on. 2015 Inspection of Deloitte AS (Headquartered in Oslo, Kingdom of Norway) Public Company Accounting Oversight Board

Report on. 2015 Inspection of Deloitte AS (Headquartered in Oslo, Kingdom of Norway) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2015 (Headquartered in Oslo, Kingdom of Norway) Issued by the Public Company Accounting

More information

Report on. 2012 Inspection of Deloitte AS (Headquartered in Oslo, Kingdom of Norway) Public Company Accounting Oversight Board

Report on. 2012 Inspection of Deloitte AS (Headquartered in Oslo, Kingdom of Norway) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2012 (Headquartered in Oslo, Kingdom of Norway) Issued by the Public Company Accounting

More information

Comparison of ISA 330 with AS-402 Objectives and Requirements Only

Comparison of ISA 330 with AS-402 Objectives and Requirements Only Comparison of ISA 330 with AS-402 Objectives and Requirements Only International Standard on Auditing 330 (Redrafted): The Auditor s INTRODUCTION Scope of this ISA 1. This International Standard on Auditing

More information

Concept Release on Possible Revisions to PCAOB Standards Related to Reports on Audited Financial Statements; PCAOB Rulemaking Docket Matter No.

Concept Release on Possible Revisions to PCAOB Standards Related to Reports on Audited Financial Statements; PCAOB Rulemaking Docket Matter No. 9/30/20119/30/20119/30/2011 September 30, 2011 Office of the Secretary Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, D.C. 20006-2803 Re: Concept Release on Possible Revisions

More information

Information about 2015 Inspections

Information about 2015 Inspections Vol. 2015/2 October 2015 Staff Inspection Brief The staff of the Public Company Accounting Oversight Board ( PCAOB or Board ) prepares Inspection Briefs to assist auditors, audit committees, investors,

More information

Report on. 2012 Inspection of Dixon Hughes Goodman LLP (Headquartered in Charlotte, North Carolina) Public Company Accounting Oversight Board

Report on. 2012 Inspection of Dixon Hughes Goodman LLP (Headquartered in Charlotte, North Carolina) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2012 (Headquartered in Charlotte, North Carolina) Issued by the Public Company Accounting

More information

Inspection Observations Related to PCAOB Rules and Auditing Standards on Communications with Audit Committees

Inspection Observations Related to PCAOB Rules and Auditing Standards on Communications with Audit Committees 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org Inspection Observations Related to PCAOB Rules and Auditing Standards on Communications with

More information

September 9, 2015. Office of the Secretary Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, D.C.

September 9, 2015. Office of the Secretary Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, D.C. One South Wacker Drive, Suite 500 Chicago, IL 60606 www.mcgladrey.com Office of the Secretary 1666 K Street, N.W. Washington, D.C. 20006-2803 Re: PCAOB Rulemaking Docket Matter No. 041 McGladrey LLP appreciates

More information

Inspection of PricewaterhouseCoopers (Headquartered in Auckland, New Zealand) Public Company Accounting Oversight Board

Inspection of PricewaterhouseCoopers (Headquartered in Auckland, New Zealand) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Inspection of PricewaterhouseCoopers (Headquartered in Auckland, New Zealand) Issued by the

More information

STANDING ADVISORY GROUP MEETING

STANDING ADVISORY GROUP MEETING 1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202)862-8430 www.pcaobus.org STANDING ADVISORY GROUP MEETING BROKER-DEALER AUDIT CONSIDERATIONS JULY 15, 2010 Introduction

More information

STANDING ADVISORY GROUP MEETING INITIATIVES TO IMPROVE AUDIT QUALITY ROOT CAUSE ANALYSIS, AUDIT QUALITY INDICATORS, AND QUALITY CONTROL STANDARDS

STANDING ADVISORY GROUP MEETING INITIATIVES TO IMPROVE AUDIT QUALITY ROOT CAUSE ANALYSIS, AUDIT QUALITY INDICATORS, AND QUALITY CONTROL STANDARDS 1666 K Street, NW Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org STANDING ADVISORY GROUP MEETING INITIATIVES TO IMPROVE AUDIT QUALITY ROOT CAUSE ANALYSIS, AUDIT

More information

) ) ) ) ) ) ) ) ) ) )

) ) ) ) ) ) ) ) ) ) ) 1666 K Street, N.W. Washington, DC 20006 Telephone: (202 207-9100 Facsimile: (202 862-0757 www.pcaobus.org INSTITUTING DISCIPLINARY PROCEEDINGS, MAKING FINDINGS, AND IMPOSING SANCTIONS In the Matter of

More information

Pursuant to Section 107(b) of the Sarbanes-Oxley Act of 2002 (the "Act" or

Pursuant to Section 107(b) of the Sarbanes-Oxley Act of 2002 (the Act or This document is scheduled to be published in the Federal Register on 02/16/2016 and available online at http://federalregister.gov/a/2016-02875, and on FDsys.gov 8011-01p SECURITIES AND EXCHANGE COMMISSION

More information

EXTERNAL AUDITOR ASSESSMENT TOOL

EXTERNAL AUDITOR ASSESSMENT TOOL EXTERNAL AUDITOR ASSESSMENT TOOL A REFERENCE FOR U.S. AUDIT COMMITTEES INTRODUCTION Among other important duties, audit committees of U.S. public companies and registered investment companies have direct

More information

COSO 2013: WHAT HAS CHANGED & STEPS TO TAKE TO ENSURE COMPLIANCE

COSO 2013: WHAT HAS CHANGED & STEPS TO TAKE TO ENSURE COMPLIANCE COSO 2013: WHAT HAS CHANGED & STEPS TO TAKE TO ENSURE COMPLIANCE COMMITTEE OF SPONSORING ORGANIZATIONS (COSO) 2013 The Committee of Sponsoring Organizations (COSO) Internal Controls Integrated Framework,

More information

Broker-Dealer Hot Topics

Broker-Dealer Hot Topics Broker-Dealer Hot Topics Shaji Varghese, CPA Audit Partner at MBAF Jennifer Lin Managing Director, Compliance at David Landau & Associates, LLC Agenda BD market and trends Annual Reporting requirements

More information

Annual Assessment of the External Auditor

Annual Assessment of the External Auditor Annual Assessment of the External Auditor TOOL FOR AUDIT COMMITTEES January 2014 ENHANCING AUDIT QUALITY AUDIT COMMITTEES iii Table of Contents Introduction 1 1. Determine the scope, timing and process

More information

Report on. 20!2 Inspection of Ehrhardt, Keefe, Steiner & Hottman, P.C. (Headquartered in Denver, Colorado) Issued by the

Report on. 20!2 Inspection of Ehrhardt, Keefe, Steiner & Hottman, P.C. (Headquartered in Denver, Colorado) Issued by the PCA Public Company Accounl:ing Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9!00 Facsimile: (202) 862-8433 www.pcaobus.org Report on 20!2 Inspection of Ehrhardt, Keefe,

More information

RE: PCAOB Rulemaking Docket Matter No. 004 Statement Regarding the Establishment of Auditing and Other Professional Standards

RE: PCAOB Rulemaking Docket Matter No. 004 Statement Regarding the Establishment of Auditing and Other Professional Standards May 12, 2003 Office of the Secretary Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, D.C. 20006-2803 RE: PCAOB Rulemaking Docket Matter No. 004 Statement Regarding the Establishment

More information

PCAOB Concept Release on Audit Quality Indicators Summary & Considerations for Stakeholder Comment

PCAOB Concept Release on Audit Quality Indicators Summary & Considerations for Stakeholder Comment PCAOB Concept Release on Audit Quality Indicators Summary & Considerations for Stakeholder Comment THE PROPOSAL On June 30, 2015, the Public Company Accounting Oversight Board (PCAOB) issued a concept

More information

Guide to Internal Control Over Financial Reporting

Guide to Internal Control Over Financial Reporting Guide to Internal Control Over Financial Reporting The Center for Audit Quality prepared this Guide to provide an overview for the general public of internal control over financial reporting ( ICFR ).

More information

Public Company Accounting Oversight Board Strategic Plan: Improving the Quality of the Audit for the Protection and Benefit of Investors

Public Company Accounting Oversight Board Strategic Plan: Improving the Quality of the Audit for the Protection and Benefit of Investors Public Company Accounting Oversight Board Strategic Plan: Improving the Quality of the Audit for the Protection and Benefit of Investors 2014 2018 NOVEMBER 26, 2014 Table of Contents Chairman's Message...

More information

In-Depth Guide to Public Company Auditing: The Financial Statement Audit

In-Depth Guide to Public Company Auditing: The Financial Statement Audit In-Depth Guide to Public Company Auditing: The Financial Statement Audit Why an In-Depth Guide to Public Company Auditing? The foundation for confidence in U.S. capital markets is strengthened through

More information

STANDING ADVISORY GROUP MEETING

STANDING ADVISORY GROUP MEETING 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org RISK ASSESSMENT IN FINANCIAL STATEMENT AUDITS Introduction The Standing Advisory Group ("SAG")

More information

Report on. 2012 Inspection of Kost Forer Gabbay & Kasierer (Headquartered in Tel Aviv, State of Israel) Public Company Accounting Oversight Board

Report on. 2012 Inspection of Kost Forer Gabbay & Kasierer (Headquartered in Tel Aviv, State of Israel) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2012 (Headquartered in Tel Aviv, State of Israel) Issued by the Public Company Accounting

More information

) ) ) ) ) ) ) ) ) ) ) ) OBSERVATIONS ON AUDITORS' IMPLEMENTATION OF PCAOB STANDARDS RELATING TO AUDITORS' RESPONSIBILITIES WITH RESPECT TO FRAUD

) ) ) ) ) ) ) ) ) ) ) ) OBSERVATIONS ON AUDITORS' IMPLEMENTATION OF PCAOB STANDARDS RELATING TO AUDITORS' RESPONSIBILITIES WITH RESPECT TO FRAUD 1666 K Street, NW Washington, D.C. 20006 Telephone: (202 207-9100 Facsimile: (202862-8430 www.pcaobus.org OBSERVATIONS ON AUDITORS' IMPLEMENTATION OF PCAOB STANDARDS RELATING TO AUDITORS' RESPONSIBILITIES

More information

Internal/External Audits

Internal/External Audits Internal/External Audits Joint World Bank/Federal Reserve System Seminar for Senior Bank Supervisors Arthur Lindo Federal Reserve Board Presentation Topics ❿Internal Audit, Corporate Governance and Controls

More information

EU Project N MARKT/2007/15/F LOT 2

EU Project N MARKT/2007/15/F LOT 2 EU Project N MARKT/2007/15/F LOT 2 Evaluation of the differences between International Standards on Auditing (ISA) and the standards of the US Public Company Accounting Oversight Board (PCAOB) Maastricht

More information

Broker-Dealer Audit and Reporting Updates

Broker-Dealer Audit and Reporting Updates PCAOB Report and New SEC Rules Address Audit, Financial Reporting, Internal Control and Risk Management Issues Relating to Broker-Dealers These Developments May Be Relevant for Audit Committees of Public

More information

) ) ) ) ) ) ) ) ) ) ) ) ) ) )

) ) ) ) ) ) ) ) ) ) ) ) ) ) ) PROPOSED AUDITING STANDARDS THE AUDITOR'S REPORT ON AN AUDIT OF FINANCIAL STATEMENTS WHEN THE AUDITOR EXPRESSES AN UNQUALIFIED OPINION; THE AUDITOR'S RESPONSIBILITIES REGARDING OTHER INFORMATION IN CERTAIN

More information

[RELEASE NOS. 33-8810; 34-55929; FR-77; File No. S7-24-06]

[RELEASE NOS. 33-8810; 34-55929; FR-77; File No. S7-24-06] SECURITIES AND EXCHANGE COMMISSION 17 CFR PART 241 [RELEASE NOS. 33-8810; 34-55929; FR-77; File No. S7-24-06] Commission Guidance Regarding Management s Report on Internal Control Over Financial Reporting

More information

Clear, transparent reporting The new auditor s report

Clear, transparent reporting The new auditor s report Clear, transparent reporting The new auditor s report 2015 Clear transparent reporting 1 Clear, transparent reporting Introduction Business has over the last few years become more complex, and financial

More information

April 19, 2012. Ms. Phoebe W. Brown Secretary Public Company Accounting Oversight Board 1666 K Street, NW Washington, DC 20006-2803

April 19, 2012. Ms. Phoebe W. Brown Secretary Public Company Accounting Oversight Board 1666 K Street, NW Washington, DC 20006-2803 Ms. Phoebe W. Brown Secretary Public Company Accounting Oversight Board 1666 K Street, NW Washington, DC 20006-2803 Re: Request for Public Comment on Concept Release on Auditor Independence and Audit Firm

More information

UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION

UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 77344 / March 10, 2016 ACCOUNTING AND AUDITING ENFORCEMENT Release No. 3755 / March 10,

More information

Office of the Secretary Public Company Accounting Oversight Board 1666 K Street, NW Washington, DC 20006-2803

Office of the Secretary Public Company Accounting Oversight Board 1666 K Street, NW Washington, DC 20006-2803 1717 Rhode Island Avenue, NW Telephone 202.872.1260 Suite 800 Facsimile 202.466.3509 Washington, DC 20036 Website brt.org December 14, 2011 W. James McNerney, Jr. The Boeing Company Chairman David M. Cote

More information

Auditing Derivative Instruments, Hedging Activities, and Investments in Securities 1

Auditing Derivative Instruments, Hedging Activities, and Investments in Securities 1 Auditing Derivative Instruments 1915 AU Section 332 Auditing Derivative Instruments, Hedging Activities, and Investments in Securities 1 (Supersedes SAS No. 81.) Source: SAS No. 92. See section 9332 for

More information

Inspection of PricewaterhouseCoopers, S.C. (Headquartered in Mexico City, United Mexican States) Public Company Accounting Oversight Board

Inspection of PricewaterhouseCoopers, S.C. (Headquartered in Mexico City, United Mexican States) Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Inspection of PricewaterhouseCoopers, S.C. (Headquartered in Mexico City, United Mexican States)

More information

File Number S7-13-15, SEC Concept Release: Possible Revisions to Audit Committee Disclosures

File Number S7-13-15, SEC Concept Release: Possible Revisions to Audit Committee Disclosures Office of the Secretary Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-1090 September 4, 2015 RE: File Number S7-13-15, SEC Concept Release: Possible Revisions to Audit Committee

More information

26 February 2007. Ms. Nancy M. Morris, Secretary Securities and Exchange Commission 100 F Street NE Washington, DC 20549-1090

26 February 2007. Ms. Nancy M. Morris, Secretary Securities and Exchange Commission 100 F Street NE Washington, DC 20549-1090 3701 Algonquin Road, Suite 1010 Telephone: 847.253.1545 Rolling Meadows, Illinois 60008, USA Facsimile: 847.253.1443 Web Sites: www.isaca.org and www.itgi.org 26 February 2007 Ms. Nancy M. Morris, Secretary

More information

MACQUARIE INFRASTRUCTURE CORPORATION AUDIT COMMITTEE CHARTER

MACQUARIE INFRASTRUCTURE CORPORATION AUDIT COMMITTEE CHARTER MACQUARIE INFRASTRUCTURE CORPORATION AUDIT COMMITTEE CHARTER A. Purpose The Audit Committee (the Committee ) has been established by the Board of Directors (the Board ) of Macquarie Infrastructure Corporation

More information

Broker-dealer industry update

Broker-dealer industry update Highlights of recent accounting and regulatory issues This document highlights key accounting and regulatory issues, new developments and best practices for broker-dealers from the SEC, Public Accounting

More information

COMMUNICATIONS WITH AUDIT COMMITTEES OVERVIEW OF PCAOB AUDITING STANDARD NO. 16

COMMUNICATIONS WITH AUDIT COMMITTEES OVERVIEW OF PCAOB AUDITING STANDARD NO. 16 FEBRUARY 2013 www.bdo.com AN OFFERING FROM BDO S CORPORATE GOVERNANCE PRACTICE BDO USA CORPORATE GOVERNANCE PRACTICE BDO USA s Corporate Governance Practice was developed to provide guidance to corporate

More information

STAFF QUESTIONS AND ANSWERS

STAFF QUESTIONS AND ANSWERS 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org STAFF QUESTIONS AND ANSWERS AUDITING INTERNAL CONTROL OVER FINANCIAL REPORTING Summary: Staff

More information

) ) ) ) ) ) ) ) ) ) ) )

) ) ) ) ) ) ) ) ) ) ) ) 1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202)862-8430 PROPOSED AUDITING STANDARD RELATED TO CONFIRMATION AND RELATED AMENDMENTS TO PCAOB STANDARDS ) ) ) ) ) ) ) )

More information

Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement

Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement Understanding the Entity and Its Environment 1667 AU Section 314 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement (Supersedes SAS No. 55.) Source: SAS No. 109.

More information

EXTERNAL AUDITOR ASSESSMENT TOOL

EXTERNAL AUDITOR ASSESSMENT TOOL EXTERNAL AUDITOR ASSESSMENT TOOL A REFERENCE FOR AUDIT COMMITTEES WORLDWIDE INTRODUCTION Among other important duties, audit committees of publicly listed companies generally have responsibility for overseeing

More information

) ) ) ) ) ) ) ) ) ) )

) ) ) ) ) ) ) ) ) ) ) 1666 K Street, N.W. Washington, DC 20006 Telephone: (202 207-9100 Facsimile: (202 862-0757 www.pcaobus.org INSTITUTING DISCIPLINARY PROCEEDINGS, MAKING FINDINGS, AND IMPOSING SANCTIONS In the Matter of

More information

Report on. 2014 Inspection of PricewaterhouseCoopers Incorporated (Headquartered in Johannesburg, Republic of South Africa)

Report on. 2014 Inspection of PricewaterhouseCoopers Incorporated (Headquartered in Johannesburg, Republic of South Africa) 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2014 Inspection of PricewaterhouseCoopers Incorporated (Headquartered in Johannesburg,

More information

The Confirmation Process

The Confirmation Process The Confirmation Process 1897 AU Section 330 The Confirmation Process (Supersedes section 331.03.08.) Source: SAS No. 67. Effective for audits of fiscal periods ending after June 15, 1992, unless otherwise

More information

Guide to Public Company Auditing

Guide to Public Company Auditing Guide to Public Company Auditing The Center for Audit Quality (CAQ) prepared this Guide to Public Company Auditing to provide an introduction to and overview of the key processes, participants and issues

More information

REPORT ON THE PROGRESS OF THE INTERIM INSPECTION PROGRAM RELATED TO AUDITS OF BROKERS AND DEALERS

REPORT ON THE PROGRESS OF THE INTERIM INSPECTION PROGRAM RELATED TO AUDITS OF BROKERS AND DEALERS 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org REPORT ON THE PROGRESS OF THE INTERIM INSPECTION PROGRAM RELATED TO AUDITS OF BROKERS AND DEALERS

More information

January 5, 2010. To Our Clients and Friends:

January 5, 2010. To Our Clients and Friends: HOW THE SEC S NEW CUSTODY REQUIREMENTS CHANGE THE GROUND RULES FOR REGISTERED INVESTMENT ADVISERS January 5, 2010 To Our Clients and Friends: As 2009 closed, the Securities and Exchange Commission (the

More information

) ) ) ) ) ) ) ) ) ) )

) ) ) ) ) ) ) ) ) ) ) 1666 K Street, N.W. Washington, DC 20006 Telephone: (202 207-9100 Facsimile: (202 862-0757 www.pcaobus.org INSTITUTING DISCIPLINARY PROCEEDINGS, MAKING FINDINGS, AND IMPOSING SANCTIONS In the Matter of

More information

Charter of the Audit Committee of the Board of Directors of Woodward, Inc.

Charter of the Audit Committee of the Board of Directors of Woodward, Inc. AUDIT COMMITTEE CHARTER Charter of the Audit Committee of the Board of Directors of Woodward, Inc. Purpose The Audit Committee (the Committee ) is appointed by the Board of Directors to oversee the accounting

More information

Transparency of Firms that Audit Public Companies

Transparency of Firms that Audit Public Companies Transparency of Firms that Audit Public Companies Final Report THE BOARD OF THE INTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS FR24/2015 NOVEMBER 2015 Copies of publications are available from: The

More information

Auditor's Objective in an Audit of Internal Control Over Financial Reporting

Auditor's Objective in an Audit of Internal Control Over Financial Reporting November 21, 2003 Office of the Secretary Public Company Accounting Oversight Board 1666 K Street, N.W. Washington, D.C. 20006-2803 Re: PCAOB Rulemaking Docket No. 008 Proposed Auditing Standard An Audit

More information

Management s Discussion and Analysis

Management s Discussion and Analysis Management s Discussion and Analysis 1473 AT Section 701 Management s Discussion and Analysis Source: SSAE No. 10. Effective when management s discussion and analysis is for a period ending on or after

More information

The Procter & Gamble Company Board of Directors Audit Committee Charter

The Procter & Gamble Company Board of Directors Audit Committee Charter The Procter & Gamble Company Board of Directors Audit Committee Charter I. Purposes. The Audit Committee (the Committee ) is appointed by the Board of Directors for the primary purposes of: A. Assisting

More information

Jumpstart Our Business Startups ( JOBS ) Act

Jumpstart Our Business Startups ( JOBS ) Act Jumpstart Our Business Startups ( JOBS ) Act An Overview July 2012 General The JOBS Act liberalizes the federal securities laws in a variety of ways discussed in the following slides. As issuers and market

More information

STAFF AUDIT PRACTICE ALERT NO. 10 MAINTAINING AND APPLYING PROFESSIONAL SKEPTICISM IN AUDITS. December 4, 2012

STAFF AUDIT PRACTICE ALERT NO. 10 MAINTAINING AND APPLYING PROFESSIONAL SKEPTICISM IN AUDITS. December 4, 2012 1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202)862-8430 www.pcaobus.org STAFF AUDIT PRACTICE ALERT NO. 10 MAINTAINING AND APPLYING PROFESSIONAL SKEPTICISM IN AUDITS

More information

) ) ) ) ) ) ) ) ) ) )

) ) ) ) ) ) ) ) ) ) ) 1666 K Street, N.W. Washington, DC 20006 Telephone: (202 207-9100 Facsimile: (202 862-0757 www.pcaobus.org INSTITUTING DISCIPLINARY PROCEEDINGS, MAKING FINDINGS, AND IMPOSING SANCTIONS In the Matter of

More information

Frequently Asked Questions Regarding Registration with the Board. February 4, 2015

Frequently Asked Questions Regarding Registration with the Board. February 4, 2015 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org PCAOB Release 2003-011E The Mechanics of Registration 1. How can my firm apply for registration

More information

Public Company Accounting Oversight Board Strategic Plan: Improving the Relevance and Quality of the Audit for the Protection and Benefit of Investors

Public Company Accounting Oversight Board Strategic Plan: Improving the Relevance and Quality of the Audit for the Protection and Benefit of Investors Public Company Accounting Oversight Board Strategic Plan: Improving the Relevance and Quality of the Audit for the Protection and Benefit of Investors 2012 2016 November 30, 2012 Table of Contents Chairman's

More information

Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained

Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained Performing Audit Procedures in Response to Assessed Risks 1781 AU Section 318 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained (Supersedes SAS No. 55.)

More information

A I. C A Q A p p r o a c h to A u d i t Q u a l i ty I n d i c a to r s

A I. C A Q A p p r o a c h to A u d i t Q u a l i ty I n d i c a to r s C A Q A p p r Qo a c h to A u d i t u a l i ty n d i c a to r s A C A Q A p p r o a c h to A u d i t Q u a l i ty n d i c a to r s The Center for Audit Quality (CAQ) is an autonomous public policy organization

More information

Report on. 2011 Inspection of PricewaterhouseCoopers LLP (Headquartered in London, United Kingdom of Great Britain and Northern Ireland)

Report on. 2011 Inspection of PricewaterhouseCoopers LLP (Headquartered in London, United Kingdom of Great Britain and Northern Ireland) 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Report on 2011 (Headquartered in London, United Kingdom of Great Britain and Northern Ireland)

More information

STAFF QUESTIONS AND ANSWERS

STAFF QUESTIONS AND ANSWERS 1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org Page 1 of 11 STAFF QUESTIONS AND ANSWERS ATTEST ENGAGEMENTS REGARDING XBRL FINANCIAL INFORMATION

More information

A LAYPERSON S GUIDE INTERNAL CONTROL OVER FINANCIAL REPORTING (ICFR)

A LAYPERSON S GUIDE INTERNAL CONTROL OVER FINANCIAL REPORTING (ICFR) A LAYPERSON S GUIDE TO INTERNAL CONTROL OVER FINANCIAL REPORTING (ICFR) Prepared by Kayla J. Gillan, Member of the Public Company Accounting Oversight Board For The Council of Institutional Investors Annual

More information

) ) ) ) ) ) ) ) ) ) CONCEPT RELEASE ON POSSIBLE REVISIONS TO PCAOB STANDARDS RELATED TO REPORTS ON AUDITED FINANCIAL STATEMENTS

) ) ) ) ) ) ) ) ) ) CONCEPT RELEASE ON POSSIBLE REVISIONS TO PCAOB STANDARDS RELATED TO REPORTS ON AUDITED FINANCIAL STATEMENTS 1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org CONCEPT RELEASE ON POSSIBLE REVISIONS TO PCAOB STANDARDS RELATED TO REPORTS ON AUDITED FINANCIAL

More information