PCAOB Adopts Amendments to Align Independence Requirements with SEC Rules
The Public Company Accounting Oversight Board (PCAOB) today adopted amendments to its independence standards. The amendments align the Board’s independence requirements with the U.S. Securities and Exchange Commission’s (SEC) recent revisions to its auditor independence rules.
“The Board’s targeted amendments are intended to avoid confusion, differences, and duplication between PCAOB and SEC independence requirements,” said PCAOB Chairman William D. Duhnke III.
The amendments to the PCAOB’s independence standards will be effective subject to SEC review.
About the PCAOB
The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and the public interest by promoting informative, accurate, and independent audit reports. The PCAOB also oversees the audits of brokers and dealers, including compliance reports filed pursuant to federal securities laws, to promote investor protection.
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