Under the PCAOB microscope
Public companies’ auditing processes have been turned on their head by the arrival of the PCAOB. Choongo Moonga finds out if this is for the best
Since the introduction of the Sarbanes-Oxley Act in 2002, there have been swift changes in the way public companies are audited and managed in the US. Chief among the changes is the takeover of auditing standard-setting by the Public Company Accounting Oversight Board (PCAOB) from the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) in 2003.
The PCAOB now
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