It is called the PCAOB Center for Enforcement Tips, Complaints and other Information. But it really is an engraved invitation to whistleblowers. Individuals are encouraged to contact the PCAOB via its Web site, by e-mail, via a 800 telephone number, or by mail with information concerning "any matter relating to the PCAOB and its responsibilities under the "Sarbanes-Oxley Act of 2002."
Specifically, the Center is intended to make it easier to file a complaint or provide tips on "potential violations by a registered public accounting firm or its associated persons, of the Act, the rules of the PCAOB or other applicable law."
The PCAOB doesn't care if the information is given anonymously. And for those who want to remain as such anonymous, the PCAOB has a simple request. They want those individuals to contact the PCAOB by telephone within 24 hours to answer any questions that it might have in response to the original information provided.
What type of information is the PCAOB looking for? In particular, it is interested in false financial information issued by a public company and failure by a registered public accounting firm to perform an audit properly.
I hope the PCAOB publishes statistics of the number of contacts made to the PCAOB Center for Enforcement Tips, Complaints and other Information. If published, it would be interesting to see the nature of the information, .as well as the amount of person power spent investigating what is reported to the PCAOB.
I don't know, but I get a feeling that a number of these so-called whistleblowers will turn out to be disgruntled investors, creditors, or employees of public companies who assumed someone must have done something illegal. And you might as well throw in some unhappy staff of CPA firms that audit public companies. All it takes is an anonymous telephone call to 800-741-3158, a number that I am sure will be well publicized.
I tried calling the number but received a recording that my call couldn't be answered. I guess the calls from those "whistleblowers" have already begun.
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