- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2019-10-23T17:10:00
A letter sent by two senators addressed to SEC Chairman Jay Clayton critiques the regulator’s oversight of the PCAOB as showing “questionable judgment and an alarming lack of transparency.”
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With no requirements for the PCAOB to feature a certain number of members from each political party, the SEC has the chance to staff the organization with a decidedly Democratic majority. What might such a Board set out to change?
President Trump’s proposed budget for fiscal year 2021 effectively calls for an end to the PCAOB beginning in 2022, while the CFPB would be subject to major funding cuts as soon as next year.
The PCAOB, recently under fire for its lack of enforcement, has imposed sanctions on Deloitte Korea and BDO Mexico for altering audit documentation in anticipation of inspections.
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
