PCAOB Launches New Resource Page for Smaller Audit Firms

As part of its ongoing efforts to support smaller audit firms, the Public Company Accounting Oversight Board (PCAOB) today launched a new online resource page: Information for Smaller Firms. The page features PCAOB content tailored for smaller firms, including publications, videos, and more.

“Smaller audit firms are an important part of the auditing landscape, and they play a critical role in investor protection,” said PCAOB Chair Erica Y. Williams. “The PCAOB is keenly interested in further engaging with auditors at smaller firms on their unique needs and challenges and finding new ways – such as the resource page we are launching today – to help them succeed.”

The PCAOB defines “smaller firms” as those that issue audit reports or that play a substantial role in the audits of 100 or fewer public companies. Today, more than 500 such firms either audit or play a substantial role in the audits of over 3,200 public companies.

Recently, the PCAOB has enhanced its focus on smaller firms with a range of initiatives, including:

• Holding a nationwide series of in-person forums for auditors of smaller businesses and broker-dealers.
• Emphasizing the scalability of its new and existing standards and rules.
• Sharing more insights from PCAOB inspections.
• Launching a new publications series, Audit Focus, targeted at smaller firms.

Building on these efforts, the smaller firm resource page launched today includes links to Audit Focus publications and videos, recordings of recent presentations from PCAOB forums for auditors of smaller businesses and broker-dealers, and a signup form for a new PCAOB Communications to Small Audit Firm Practitioners mailing list.

The page also complements PCAOB resources for auditors at firms of all sizes, including the Information for Auditors and Staff Publications pages.

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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 further the public interest in the preparation of informative, accurate, and independent audit reports. The PCAOB also oversees the audits of brokers and dealers registered with the Securities and Exchange Commission, including compliance reports filed pursuant to federal securities laws.

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