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The Public Company Accounting Oversight Board (PCAOB) announced today that it has finalized cooperative agreements with France and Finland, allowing board personnel to conduct joint inspections of French and Finish audit firms alongside their European counterparts, as well as exchange confidential information with each other, though both countries also have data protection provisions as part of their re
The Public Company Accounting Oversight Board (PCAOB) announced today that C. Ian Anderson, an attorney who previously was serving as Senior Trial Counsel in the SEC's Division of Enforcement, will now serve as Regional Associate Director for Division of Enforcement and Investigations, overseeing board enforcement activities from the New York Office.
The Public Company Accounting Oversight Board (PCAOB) released a proposed new standard today intended to improve auditor evaluation of a public company's identification of, accounting for, and disclosure about its relationships and transactions with related parties, enhance the auditor's identification and evaluation of a company's significant unusual transactions, and improve understanding of a company's financial relationships with its executive officers, according to a PCAOB press release.
The PCAOB has imposed a $2 million civil money penalty against Ernst & Young and sanctioned four of its current and former partners for violating board rules and standards, according to a Feb. 8 statement.
The PCAOB today reproposed for comment an auditing standard on communications with audit committees, and other amendments to PCAOB standards. The Board initially proposed the standard on March 29, 2010.
Earlier this year, the Public Company Accounting Oversight Board (PCAOB) issued a 40-page concept release that explored ways it could enhance auditor independence, objectivity and professional skepticism. One option the release discussed in detail was mandatory audit firm rotation.
The Public Company Accounting Oversight Board has announced 28 new and reappointed members to its Standing Advisory Group (SAG), a team of experts that advises the board.