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PCAOB Announces 2014 Forums on Auditing Smaller Broker-Dealers

And the Agenda for May 28 Forum in Chicago

The Public Company Accounting Oversight Board today announced the dates for four 2014 Forums on Auditing Smaller Broker-Dealers, and the agenda for the first meeting, which will be held in Chicago, Illinois, on Wednesday, May 28.

The forums are designed to share important information about Board activities with PCAOB-registered public accounting firms that audit smaller broker-dealers that are registered with the Securities and Exchange Commission. The forums also provide an opportunity for Board members and PCAOB staff to hear comments, concerns, and questions from auditors.

"The Board is fully invested in its mandate to oversee the audits of broker-dealers to promote investor protection," said James R. Doty, PCAOB Chairman. "The forums are a critical part of the Board's outreach to the auditors of smaller broker-dealers. They provide information on inspections findings, the application of PCAOB auditing standards, and recent Board actions."

The 2014 schedule includes four forums:

  • Chicago, IL, May 28
  • Jersey City, NJ, June 13
  • Miami, FL, Oct. 29
  • Las Vegas, NV, Dec. 2

"These forums offer an opportunity for regulators and auditors to talk to each other about changes in the regulatory landscape for broker-dealer auditors and lessons learned in practice," said Mary Sjoquist, Director of the Office of Outreach and Small Business Liaison, who oversees the Forums on Auditing Smaller Broker-Dealers.

Forum discussion topics include:

  • Amendments to PCAOB rules, including independence rules related to performing tax services
  • Guidance for applying PCAOB auditing standards to audits of broker-dealers
  • Inspection findings and case studies

The forum also will include presentations from the staff of the Securities and Exchange Commission and the Financial Industry Regulatory Authority, as well as a broader regulatory panel discussion.

Each forum generally is hosted by a PCAOB Board member and is open to members of PCAOB-registered firms that audit broker-dealers. There is no fee to participate in these events, but preregistration is required. Attendees also have the opportunity to earn continuing professional education credits.

More information on the forums is available on the PCAOB website. If you have registration questions, please contact Margaret Hopkins at forum@pcaobus.org or (202) 207-9081.

The PCAOB today also announced seven 2014 Forums on Auditing in the Small Business Environment, and the agenda for the first meeting in Dallas, Texas, on Thursday, May 8.