Tag: PCAOB

SEC to consider requiring disclosure of audit firm tenure and name of engagement partner

by Cydney Posner The SEC is expected to issue its concept release on improving audit committee reports “soon” (whatever that means) according to Compliance Week, and among the topics the SEC will examine is whether those “reports should include the audit firm’s tenure and the name of engagement partners.”  If this […]

PCAOB publishes new “Audit Committee Dialogue”

by Cydney Posner The PCAOB has announced the publication of a new paper designed to address audit committees.  The paper, Audit Committee Dialogue, provides insights from inspections of public company auditors that should assist audit committee members in overseeing their auditors. Other similar papers are anticipated. This paper highlights two areas: key […]

Four questions audit committees should ask their audit firms

by Cydney Posner Audit Committee members may be interested in this release issued by the PCAOB in August 2012 designed “to assist audit committees in (1) understanding the PCAOB’s inspections of their audit firms and (2) gathering useful information from their audit firms about those inspections.” The PCAOB regularly performs inspections of […]

SEC to issue concept release regarding audit committees

by Cydney Posner Compliance Week reports  that SEC Chair Mary Jo White, speaking before the Investor Advisory Group of the PCAOB, said that the SEC plans to Issue a concept release in early 2015 “exploring possible avenues for elevating the work of public company audit committees.” The release is expected to address many […]

Has the PCAOB finally reached a compromise on naming audit engagement partners?

by Cydney Posner The saga of the PCAOB and its proposals to require identification of the audit engagement partner continues.   Compliance Week reports, based on a newly published PCAOB standard-setting agenda, that the PCAOB is now considering issuance of a supplemental request for comment in connection with yet another proposed compromise […]

PCAOB set to finalize rule requiring identification of lead audit partner

by Cydney Posner Last week, the WSJ reported that the PCAOB expects to finalize a new rule this September that would require audit firms to disclose the name of the engagement partner for each audit.  The purpose of the rule, according to its proponents, is to encourage auditors to perform […]