Washington, D.C., Oct. 28, 2003
The Public Company Accounting Oversight Board today released a briefing paper that describes the broad parameters of the Board's approach to the oversight of non-U.S. accounting firms.
The briefing paper describes the Board’s plans for oversight of non-U.S. registered public accounting firms, based on cooperation with appropriate non-U.S. auditor oversight authorities. This cooperative approach would allow the Board to fulfill its responsibilities to protect the interests of investors and to further the public interest, in keeping with the statutory authority granted to the Board.
The plans described in the briefing paper include:
The full text of the briefing paper can be found under Rulemaking on the Board’s Web site, www.pcaobus.org.