PCAOB Chairman Logothetis Statement on SEC Approval of Amendments to QC 1000

Public Company Accounting Oversight Board (PCAOB) Chairman Demetrios (Jim) Logothetis issued the following statement today after the U.S. Securities and Exchange Commission (SEC) approved targeted amendments to QC 1000, A Firm’s System of Quality Control. The amendments do not change QC 1000’s effective date, which is December 15, 2026.  

“The approval of QC 1000 is a significant milestone for the PCAOB. It continues our efforts to refocus on our core mission by strengthening the effectiveness of our standards while also preserving the rigor our U.S. capital markets deserve. This is a win for auditors and investors alike. These amendments also reflect a thoughtful, robust stakeholder-informed effort.  

By enhancing alignment with international quality management frameworks, where appropriate, refining requirements that imposed unnecessary burdens, and facilitating a modern, quality control-focused inspection program, the amendments advance the PCAOB’s broader modernization agenda.  

Most importantly, these amendments position QC 1000 to fulfill its intended purpose: helping firms build effective systems of quality control. This will enable the PCAOB to take a more proactive, risk-informed approach to oversight that promotes accountability, strengthens audit quality, and better serves investors and stakeholders throughout the audit and financial reporting ecosystem.  

I want to extend my deepest thanks to Chairman Atkins, Commissioner Uyeda, and the SEC staff for their thoughtful review and approval of these amendments.” 

Ahead of QC 1000 taking effect on December 15, 2026, PCAOB staff have published guidance and other implementation resources to help firms implement QC 1000. More information can be found on the PCAOB’s Quality Control Implementation webpage.