Statement on SEC Approval of PCAOB Rule Amendment To Enhance the Usefulness of Audit Firm Registration Information

Public Company Accounting Oversight Board (PCAOB) Chair Erica Y. Williams issued the following statement following the U.S. Securities and Exchange Commission’s (SEC) approval of a PCAOB rule amendment enabling the Board to address situations in which a registered firm has ceased to exist, is nonoperational, or no longer wishes to remain registered, as demonstrated by its failures to file annual reports (via PCAOB Form 2) and pay annual fees for at least two consecutive reporting years.

“We thank our SEC colleagues for their review and approval of this PCAOB rule amendment.

The amendment approved today will not only make PCAOB registration information more useful for investors, audit committees, and other stakeholders, it will also help our organization use its staff time and resources more efficiently and effectively.

We also thank the commenters who provided us with valuable perspectives on this amendment. We look forward to monitoring its impact.”

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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.

Contact

PCAOB Office of Communications and Engagement
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