The Public Company Accounting Oversight Board plans to hold seven forums around the country to discuss auditing in the small business environment.
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The first of the seven events will be held on Thursday, April 29, in Charlotte, N.C. As in the past, the forums are designed to share important information about PCAOB activities with registered public accounting firms operating in the small business community. They also provide an opportunity for PCAOB board members and staff to hear the comments and concerns of auditors working with small businesses.
PCAOB board member Bill Gradison will be hosting the Charlotte forum.
The 2010 forum agenda features several case studies and the following discussion topics that address audit issues for small business public clients: current economic issues and trends; Auditing Standard No. 7, Engagement Quality Review; proposed standards on risk assessment; auditing internal control over financial reporting for non-accelerated filers; information technology issues; future standard-setting priorities; and recent implementation of annual and special reporting rules.
In addition, staff from the Securities and Exchange Commissions Division of Corporation Finance will provide an update on recent SEC activities and observations of common financial reporting issues facing smaller public companies.
Each forum is hosted by a member of the PCAOB board and is open to PCAOB registered firms. There is no fee charged to participate in these events but pre-registration is required. Attendees also have the opportunity to earn continuing professional education credits.
The PCAOB held its first Small Business Forum in late 2004 and has continued to hold forums since that time in cities across the country meeting with more than 3,700 representatives of smaller registered accounting firms.
Feedback received from these forums help the PCAOB to understand and consider the needs and challenges of the small business community in its inspection and standard-setting processes.
The 2010 schedule is as follows:
Charlotte, N.C. April 29, 2010
San Francisco, Calif. May 20, 2010
New York, N.Y. July 29, 2010
Jersey City, N.J. July 30, 2010
Irvine, Calif. September 30, 2010
Dallas, Texas November 2, 2010
Miami, Fla. December 1, 2010
For more information, including a detailed agenda, please visit the Forum on Auditing in the Small Business Environment on the PCAOB Web site.