Driving improvement in audit quality to protect investors
The Public Company Accounting Oversight Board oversees the audits of public companies and SEC-registered brokers and dealers.
2022 PCAOB Accomplishments: Modernizing Our Standards
To protect investors, the PCAOB is working to modernize our standards to meet the challenges of today’s economy. Our standards provide the requirements auditors must satisfy when conducting their audits. They also serve as the basis for our inspection
and enforcement activities. Effective standards set the foundation for high quality audits.
In 2022, we announced one of the most ambitious standard-setting agendas in PCAOB history. We are working actively to update more than 30 standards within 10 standard-setting projects. We strengthened our requirements to increase accountability and improve audit quality when audit firms plan and perform audits that involve other firms or individual accountants. We issued a proposal to overhaul our standard on quality control systems at audit firms. We also proposed to replace our standard on the confirmation process, which touches nearly every audit, to strengthen and modernize our requirements.
Your Tips Help the PCAOB Protect Investors
How can you play a role in helping to protect investors? The public can play a critical role in our enforcement efforts by letting us know when they see something amiss.
PCAOB Chair Erica Y. Williams explains the different ways you can send tips to the PCAOB. Watch our video to see what types of information are useful to the PCAOB.