TheCorporateCounsel.net

Yesterday, the PCAOB announced that it will hold a virtual roundtable about its hotly contested proposal to enhance auditor responsibility for considering non-compliance with laws and regulations. The roundtable is next Wednesday, March 6th, at 9:30 a.m. Eastern.

In light of the roundtable, the PCAOB has also reopened the comment period for this proposal – until Monday, March 18th. The previous comment period closed last August. There was no shortage of feedback. All of the letters are available on the PCAOB’s website – and Meredith most recently shared notable themes a few months ago.

The PCAOB has a list of topics that it is considering more closely. Here’s more detail:

The roundtable will include three panels focused on the proposal’s requirements relating to auditors’ identification of laws and regulations and assessment of those laws and regulations, as well as costs and benefits of the proposal.

A briefing paper on the roundtable includes specific questions to be discussed and additional background.

Commenters are encouraged to specifically consider the questions and topics included in the roundtable briefing paper, and commenters are welcome to address any aspect of the proposal. Commenters are asked to provide reasoning and relevant data supporting their views.

Check out their announcement for instructions on joining the roundtable.

– Liz Dunshee