In order to provide investors and the public with current information about the PCAOB's international inspection efforts with respect to registered, non-U.S audit firms, the Board is providing the following updated lists. The information in each of the lists is as of December 31, 2012.

  • A list of all jurisdictions in which there are one or more registered non-U.S. firms that the PCAOB has already inspected; and
  • A list of the registered non-U.S. firms for which the inspection fieldwork had not yet been completed by the PCAOB, even though four or more years have passed since the end of the calendar year in which the firm first issued an audit report while registered with the PCAOB.

PCAOB Inspections of Non-U.S. Firms in 2012

In its last disclosure as of June 30, 2012, the PCAOB indicated its intent to conduct inspections of registered firms located in 43 non-U.S. jurisdictions in 2012. As of December 31, 2012, the PCAOB was unable to conduct inspections of firms located in 17 of those jurisdictions (Austria, Belgium, China, Cyprus, the Czech Republic, Denmark, Finland, France, Greece, Hong Kong, Hungary, Ireland, Italy, Luxembourg, Poland, Portugal and Sweden) because the PCAOB continued to be denied access to the information necessary to conduct inspections of registered firms on the basis of asserted restrictions under local law or objections based on national sovereignty.[1] In addition, the PCAOB was unable to conduct inspections of firms located in Venezuela despite continued communications with the Venezuelan government. The PCAOB continues to seek to resolve the obstacles to PCAOB inspections with the relevant authorities in all of these jurisdictions and remains optimistic about concluding bilateral agreements with many of them in the foreseeable future.

In addition to the two lists identified above, additional background information is provided below about the Board's progress in meeting target thresholds announced by the Board in adopting Rule 4003(g) for inspections of certain non-U.S. firms.

[1] On January 31, 2013 and February 1, 2013, the PCAOB concluded cooperative arrangements with the audit regulators in France and Finland, respectively. The cooperative arrangements provide a framework for the PCAOB to conduct joint inspections in those jurisdictions.