PCAOB Announces Oct. 18 Webinar for Small Business Auditors on Other Auditor Requirements for Form AP
The Public Company Accounting Oversight Board today announced that it will host a webinar on October 18, 2017, on other auditor requirements for Form AP for PCAOB-registered firms auditing smaller public companies.
In the webinar, PCAOB presenters will focus on the requirement that went into effect on June 30, 2017, to disclose information about other firms that participated in an audit. Many firms will implement this for the first time following the completion of their calendar year-end audits.
The webinar also will highlight other aspects of the new rules, including filing requirements and amending Form AP.
"Important new auditor transparency requirements recently went into effect and we want to be sure all firms have the information they need," said James R. Doty, PCAOB Chairman. "PCAOB webinars are an efficient way to reach audit firms with timely and targeted information."
PCAOB rules require the disclosure of other accounting firms participating in an audit on Form AP for audit reports issued on or after June 30, 2017. Firms have been required to disclose the names of audit engagement partners on Form AP since January 31, 2017.
"This is one of many outreach efforts undertaken by the Board and staff to assist auditors in understanding the new requirements for Form AP," said Greg Scates, Director of the PCAOB Office of Outreach and Small Business Liaison.
Participants are encouraged to submit questions on Form AP prior to the webinar. There also will be an opportunity to submit questions during the webinar.
The 75-minute webinar will begin at 2 p.m. EDT on October 18, and is open to members of PCAOB-registered firms. There is no fee to participate, but registration is required by October 12, 2017. Information on accessing the webinar will be sent after registration is completed.
Participants have the opportunity to earn continuing professional education credits. Additional information on the webinar, including a link to register, is available on the PCAOB website.