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.”