Congress created the Public Company Accounting Oversight Board as part of the Sarbanes-Oxley accounting reform law in 2002.
The Public Company Accounting Oversight Board, which regulates auditing firms, is asking whether long tenure might lead to complacency.
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The Senate bill would establish the Public Company Accounting Oversight Board to conduct regular inspections of public accounting firms.
The Public Company Accounting Oversight Board, or PCAOB, is negotiating with Beijing to allow information-sharing between U.S. and Chinese regulators.
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Veteran public servant and litigator Jim Doty took over the reins at the Public Company Accounting Oversight Board (PCAOB) February 1, 2011.
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PCAOB, I laid out changes to the Sarbanes-Oxley law that could be considered if the Court declared the Public Company Accounting Oversight Board unconstitutional.
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The bureaucrats' side was showcased at the U.S. Securities and Exchange Commission and Public Company Accounting Oversight Board roundtable hearing last week on Sarbanes-Oxley's section 404.
The European version calls for an end to auditors' self-regulation, requiring individual countries to set up regulators similar to America's newish Public Company Accounting Oversight Board.
One proposal, from Senators Jon Corzine and Christopher Dodd, is to look into creating a new oversight body akin to the quasi-governmental Public Company Accounting Oversight Board.
Mandatory audit firm rotation was an old tune sung again by the Public Company Accounting Oversight Board, the audit industry regulator, beginning in August of 2011.
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The Public Company Accounting Oversight Board, which regulates US audit firms, disclosed private portions of a Deloitte inspection report for 2007 that highlighted poor quality and administrative controls.
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In August of 2012, the Public Company Accounting Oversight Board, the US audit industry regulator, issued its first report on the auditors of broker-dealers under a pilot inspection program.
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The Public Company Accounting Oversight Board (PCAOB), an independent agency of the Securities and Exchange Commission (SEC) created by SOx, develops those auditing standards and regulates external auditors of public companies.
In addition, the Public Company Accounting Oversight Board, created as part of the same backlash against corporate fraud, has had to grant auditors more time to comply with requirements under Sarbanes-Oxley.
If Deloitte still refuses to respond, America's accounting regulator, the Public Company Accounting Oversight Board (PCAOB), could even decertify Deloitte's Chinese affiliate from signing financial statements for firms listed in America.
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The Public Company Accounting Oversight Board (PCAOB), which is the American agency in charge of ensuring US auditors are doing a proper job, have expressed frustration at their inability to access and measure the effectiveness of audits done in China.
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McDonough, a former executive of First Chicago, did a 10-year stint as head of the Federal Reserve Bank of New York before becoming the first chairman of the Public Company Accounting Oversight Board, a U.S. regulatory entity overseeing the accounting profession, in 2003.
The report prepared by an accountant registered and inspected by the Public Company Accounting Oversight Board among other things, must describe the controls that are in place to protect the assets, the tests performed on the controls, and the results of those tests.
FORBES: All Talk: The SEC's Broken Broker-Dealer, Investment Advisor Examination Program
Audit Enhancements: A broker-dealer that maintains custody of customer securities and cash would be required to undergo a compliance examination by a Public Company Accounting Oversight Board-registered public accounting firm that would include an audit of the controls the broker-dealer has in place to protect customer assets.
FORBES: All Talk: The SEC's Broken Broker-Dealer, Investment Advisor Examination Program
It is only one of nine accounting firms in the U.S. that the Sarbanes-Oxley Act requires to be inspected annually by the PCAOB (Public Company Accounting Oversight Board) because the firm audits over 100 companies that are traded on stock exchanges here in the United States (18 of them Chinese).
McDonough, a former executive of First Chicago, did a 10-year stint as head of the Federal Reserve Bank of New York (nyse: BK - news - people ) before becoming the first chairman of the Public Company Accounting Oversight Board, a U.S. regulatory entity overseeing the accounting profession, in 2003.
In a late-September speech, Lewis Ferguson, a board member of the Public Company Accounting Oversight Board, the U.S.'s audit-industry regulator, said that 126 Chinese companies have either been delisted from U.S. exchanges, or "gone dark" meaning that they are no longer filing current reports with the Securities and Exchange Commission since the troubles started in late 2010.
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