AICPA Releases Statement on Possible Changes to PCAOB’s Structure

The AICPA has released a statement on a potential measure, whose draft wording was proposed by the U.S. House Committee on Financial Services, under which the PCAOB would be defunded and its activities would be transferred to the SEC. The duties transferred “would include the PCAOB’s inspections and enforcement activities involving firms that audit listed companies, as well as rulemaking and standard-setting activities.”

In the statement, AICPA President and CEO Mark Koziel stresses, among other things, that the AICPA is prepared “to assist policymakers as they consider potential changes to the regulatory infrastructure overseeing public company auditing.”