The Public Company Accounting Oversight Board on Tuesday launched on a new online resource page, Information for Smaller Firms, featuring PCAOB content tailored for smaller audit firms, including publications, videos, and other resources.
“Smaller audit firms are an important part of the auditing landscape, and they play a critical role in investor protection,” PCAOB Chair Erica Williams said in a statement. “The PCAOB is keenly interested in further engaging with auditors at smaller firms on their unique needs and challenges and finding new ways—such as the resource page we are launching today—to help them succeed.”
The PCAOB defines “smaller firms” as those that issue audit reports or that play a substantial role in the audits of 100 or fewer public companies. Today, more than 500 such accounting firms either audit or play a substantial role in the audits of more than 3,200 public companies.
Recently, the PCAOB has enhanced its focus on smaller firms with a range of initiatives, including:
- Holding a nationwide series of in-person forums for auditors of smaller businesses and broker-dealers.
- Emphasizing the scalability of its new and existing standards and rules.
- Sharing more insights from PCAOB inspections.
- Launching a new publications series, “Audit Focus,” targeted at smaller firms.
The smaller firm resource page launched today includes links to “Audit Focus” publications and videos, recordings of recent presentations from PCAOB forums for auditors of smaller businesses and broker-dealers, and a signup form for a new PCAOB Communications to Small Audit Firm Practitioners mailing list.
The page also complements PCAOB resources for auditors at firms of all sizes, including the Information for Auditors and Staff Publications pages.
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
Tags: Accounting, Auditing, PCAOB
