Accounting Reporting and Succession Rules Under Debate

The Public Company Accounting Oversight Board plans to meet to discuss rules on reporting by registered public accounting firms and succeeding to a predecessor firm's registration status.

The PCAOB will consider adopting rules that would require annual and special reporting of specified information by accounting firms. The information would be made publicly available, subject to certain exceptions for confidential information. Any rules that the PCAOB adopts would form the foundation of its reporting regime for registered firms.

The PCAOB also will consider adopting rules on succeeding to the registration status of a predecessor firm in the event of a merger or change in a firm's legal form.

The meeting will take place on Tuesday, June 10, at 9:30 AM at the board's open meeting room at 1666 K St. NW, Washington, D.C. It will be open to the public and will be Webcast via a link on the PCAOB's Web site. Later it will be available via podcast.

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