The Office of Internal Oversight and Performance Assurance (IOPA) provides internal examination of the programs and operations of the PCAOB and, in so doing, helps ensure the efficiency, effectiveness, and integrity of those activities.
IOPA conducts annual and special performance and quality assurance reviews as well as inquiries of PCAOB functions and programs. IOPA’s goal is to help ensure that the PCAOB does the following:
- Identifies and addresses risks to the integrity and effectiveness of programs and operations
- Identifies and implements opportunities to improve the effectiveness and efficiency of programs and operations
- Reports material and other relevant financial, performance, and operating information to the public, Congress, and the Securities and Exchange Commission
- Complies with applicable laws, regulations, and policies, and promotes and enforces the compliance of PCAOB employees
- Safeguards and uses resources in an efficient manner
- Conducts programs and operations to protect and promote the public interest in the integrity of public company audits
Following a review, IOPA usually issues a report to the Board that includes recommendations.