The Public Company Accounting Oversight Board has adopted rules and a related form to govern when a firm would be allowed to succeed to the registration status of a predecessor firm following a merger or other change in the registered firm's legal status.
To become registered with the PCAOB, a public accounting firm has traditionally filed an application for registration on PCAOB Form 1, which the board may approve or disapprove. The new rules and form (PCAOB Form 4) adopted by the PCAOB identify the circumstances in which the registration status of a registered firm may continue in effect even after the firm's legal form has changed or the firm has combined with another firm, without the new legal entity needing to apply for registration on Form 1.
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