The Public Company Accounting Oversight Board plans to host six forums across the country on auditing in the small business environment, starting in June.
The annual forums are updated every year with the goal of sharing important information about PCAOB activities with registered public accounting firms that audit clients in the small business community. They also provide an opportunity for PCAOB board members and staff to listen to questions, comments and concerns from auditors.
“These meetings allow the PCAOB to highlight important program areas and engage in a dialogue with smaller registered public accounting firms about current audit issues,” said PCAOB chairman James R. Doty in a statement.
The forums begin on June 6 in Seattle, where the agenda will include several case studies presented by staff from the PCAOB Division of Registration and Inspections, the Division of Enforcement and Investigations, and the Office of the Chief Auditor.
Discussion topics include fraud and professional skepticism, key inspections findings, the relevant standards and case studies, and remediation of firm quality control deficiencies. This year’s agenda also includes a panel focused on fraud. Each case study will incorporate suggestions on remediation and engagement quality review.
In addition, staff from the Securities and Exchange Commission’s Division of Corporation Finance will participate with PCAOB staff in discussing the JOBS Act and how it may affect PCAOB standard setting for audits of smaller public companies.
SEC staff also will provide an update on recent SEC activities and observations about common financial reporting issues facing smaller public companies.
The 2013 agenda will target some of the special challenges that the inspection program has identified in small to mid-size company audits.
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 2004 and has continued to hold forums across the country, meeting with more than 5,000 representatives of smaller registered public accounting firms.
The 2013 schedule includes:
• Seattle, Wash., June 6
• Philadelphia, Pa., June 25
• New York, N.Y., July 18
• Chicago, Ill., October 2
• Newport Beach, Calif., November 7
• Tampa, Fla., December 5
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