The Public Firm Accounting Oversight Board issued a workers request for data and remark Monday on issues associated to the appliance and use of its interim attestation requirements.
The PCAOB is asking for public enter on modernizing requirements, which is without doubt one of the key targets for its draft strategic plan. To fulfill this purpose, earlier this 12 months, the board introduced one of the bold standard-setting agendas in its historical past, together with modernizing interim requirements that haven’t been up to date since their preliminary adoption almost 20 years in the past.
In April 2003, the PCAOB adopted on an interim foundation sure attestation requirements from the American Institute of CPAs, which have continued in impact considerably as they have been adopted.
“The world has modified since 2003, so to make sure buyers are protected, our requirements should adapt to maintain up,” mentioned PCAOB chair Erica Williams, in an announcement. “We urge the general public to supply our workers with enter on how we will greatest convey our attestation requirements updated.”
The PCAOB spoke about these supposed updates earlier this month (see story), after Securities and Trade Fee Chairman Gary Gensler publicly commented on the board’s slowness (see story) in updating its requirements.
The board is asking for feedback on the draft plan by Oct. 26, 2022. They are often emailed to feedback@pcaobus.org or despatched by postal mail to the Workplace of the Secretary, PCAOB, 1666 Ok Road, NW, Washington, DC 20006-2803.