Washington, D.C., July 7, 2011
The Public Company Accounting Oversight Board has scheduled an open meeting for Tuesday, July 12, at 9:30 a.m., to consider issuing for public comment proposed audit and attest standards for broker-dealer and public company engagements. The meeting will take place in the Board's meeting room at 1666 K St. N.W., Washington, D.C.
The Board is undertaking rulemaking to implement section 982 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The proposed attest standards would apply to audits of brokers and dealers in the event the U.S. Securities and Exchange Commission adopts its proposed amendments to the broker-dealer filing requirements under Exchange Act Rule 17a-5.
The Board also will consider whether to propose amendments to PCAOB standards for auditing supplemental information that accompanies the audited financial statements of an issuer, broker, or dealer. Examples of such supplemental information include the supporting schedules that brokers and dealers are required to file with the SEC. These proposed amendments would also apply to auditor opinions on supplemental information filed with the Commission by issuers, not just brokers and dealers.
The meeting is open to the public and webcast via a link on the PCAOB website that will be made available the day of the meeting. The meeting also will be available via podcast later in the day.