PCAOB Invites Auditors of Brokers and Dealers to Participate in the 2011 Forum on Auditing Smaller Broker-Dealers

The Public Company Accounting Oversight Board today announced a preliminary agenda for its first Forums on Auditing Smaller Brokers-Dealers and confirmed the previously announced dates of these forums.

These forums will provide a unique opportunity for registered public accounting firms operating in the smaller broker-dealer community to interact with PCAOB Board members and staff and to learn more about the PCAOB. They will also enable the PCAOB to hear the comments and concerns of auditors working with smaller brokers and dealers. These forums are designed specifically for those auditors who are registered with the PCAOB because they audit brokers or dealers or auditors with both small business and broker-dealer clients.

"We see these forums as an excellent opportunity to meet with auditors of smaller broker-dealers," said James R. Doty, PCAOB Chairman. "These forums will be interactive. Auditors will learn about the PCAOB's programs and important practice issues and the PCAOB will gain insights from the participants about the current issues and challenges facing the smaller broker-dealer community."

The 2011 forum agenda will include:

  • Overview of PCAOB programs
  • Interim inspection program for audits of brokers and dealers
  • Overview of the inspection process
  • Auditing standards applicable to audits of brokers and dealers

In addition, as with the PCAOB's well-established Forums on Auditing in the Small Business Environment, we hope to include a section with presentations by other regulators who have authority over the broker-dealer industry.

Each Forum for Auditors of Brokers and Dealers will be hosted by a member of the PCAOB Board and open to PCAOB-registered firms. There is no fee charged to participate in these events but preregistration is required. Attendees also have the opportunity to earn continuing professional education credits.

Feedback from these forums will assist the PCAOB in determining the appropriate scope of its permanent inspection rules and understanding and considering the unique needs and challenges of the auditors of smaller broker-dealers and their clients in its inspection and standard-setting process.

The 2011 schedule is as follows:

For more information, please visit the Forum on Auditing Smaller Broker-Dealers on the PCAOB website. If you have further registration questions, please contact Margaret Hopkins at forum@pcaobus.org or (202) 207-9081.