Under the Sarbanes-Oxley Act, PCAOB oversight extends to non-U.S. firms that audit or play a substantial role in the audit of U.S. issuers and broker-dealers. In exercising our oversight authority outside of the U.S., we benefit greatly from cross-border cooperation.
To facilitate cross-border cooperation, we often enter into formal cooperative arrangements with foreign audit regulators to work closely in many of these jurisdictions on joint inspections and enforcement matters.
The PCAOB has conducted inspections of one or more firms in over 50 non-U.S. jurisdictions. We have worked closely with our international counterparts in many of these jurisdictions on joint inspections as well as enforcement matters, and we have built constructive relationships that facilitate meaningful cooperation. We often enter into formal cooperative arrangements with foreign audit regulators to facilitate cross-border cooperation. We also expect to conclude soon final agreements that would facilitate cooperation in Belgium and France. With respect to China, we do not have equivalent cooperation and access.
The PCAOB engages on both a bilateral and multilateral basis with non-U.S. audit oversight regulators. International cooperation strengthens audit quality globally and facilitates our ability to accomplish our mission to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports.
China-Related Access Challenges
We remain concerned about our lack of access in China and will continue to pursue available options to protect investors and the public interest through the preparation of informative, accurate, and independent audit reports. The PCAOB publishes additional information regarding the nature and scope of the access restrictions. This includes lists identifying the public companies whose principal or component auditor is located in a jurisdiction where obstacles to PCAOB inspections exist.List of Referred Work Performed by China-based Firms