PCAOB Update on Operations in Light of COVID-19

Washington, May 11, 2020

The Public Company Accounting Oversight Board (PCAOB) is providing the following update on our current operations in light of COVID-19. 

As they have been from the outset of the COVID-19 situation, our activities continue to be guided by two core considerations: (1) the health and safety of our employees and those with whom we interact; and (2) our statutory mission to promote audit quality. 

While this situation continues to present a unique set of challenges, the PCAOB has maintained the continuity of our operations and our commitment to our work remains unchanged. In an effort to provide transparent, timely, and useful information to our stakeholders, below is an update on PCAOB operations and activities: 

  • We remain in a mandatory, organization-wide, work from home period, which began on March 18. We continue to closely monitor federal, state, and local guidance, and will reassess our policy as appropriate.
  • The previously announced 45-day relief period, which provided audit firms the opportunity to pause inspections activity in full or in part, has now concluded.
  • We continue to suspend both international and domestic travel.
  • We continue to assess the timing of returning to in-person meetings and events for our stakeholders, including our Forums on Auditing in the Small Business Environment and our Broker-Dealer Auditor Forum. We will share details on the logistics of these events as they become available.
  • Our enforcement and investigative efforts continue to the maximum extent possible as we prioritize and address issues that pose the greatest risk to investors.
  • Our registration activities continue, including with respect to the processing of applications and responding to queries on registration matters.
  • Our Board continues to meet and vote on pending items remotely and securely.
  • As always, we are closely coordinating with the U.S. Securities and Exchange Commission and other domestic and non-U.S. financial regulators and governmental authorities as appropriate.

To stay up-to-date on our ongoing activities related to COVID-19, please visit our resource page. If you have questions, comments, or concerns to share with us, please visit the Contact Us page on our website to find the relevant PCAOB contact information.