PCAOB Announces Standing Advisory Group Meeting on Nov. 13-14, 2013 and SAG meeting dates for 2014
The Public Company Accounting Oversight Board today announced that it will hold a meeting of its Standing Advisory Group on Wednesday and Thursday, Nov. 13-14, 2013.
The Board also announced today that it has scheduled the following SAG meetings for 2014: June 24-25 and Nov. 20-21. The agendas and meeting logistics will be announced closer to the meeting dates.
The agenda for next month's meeting includes a discussion of recent PCAOB developments and the Board's current standard-setting activities. Additionally, the SAG will discuss:
- Fraud Task Force: Potential objectives of a Fraud Task Force, as well as a panel discussion on the economic consequences of financial reporting fraud, the effectiveness of audits in detecting fraud, and potential mechanisms for improving their effectiveness. Fraud was last discussed with the SAG at the November 2012 meeting.
- Audit Quality Indicators: An update on the development of audit quality indicators since the SAG last discussed the issue at its May 2013 meeting.
- Auditor's Reporting Model: Proposed auditing standards on the auditor's report and the auditor's responsibilities regarding other information in an annual report. The Board proposed the standards for public comment on Aug. 13, 2013.
The meeting, which is open to the public, will be held at The Westin Washington DC City Center Hotel, 1400 M Street NW, Washington, DC. The meeting will take place on Nov. 13 from 1 p.m. to 5:30 p.m. and on Nov. 14 from 8:30 a.m. to 12:15 p.m. The meeting also will be available via webcast on the PCAOB website.
The SAG includes investors, auditors, public company executives, and others. The group is chaired by PCAOB Chief Auditor and Director of Professional Standards Martin F. Baumann. More information is available on the Standing Advisory Group page on the PCAOB website.