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Clifford Chance

Clifford Chance


The PCAOB's International Focus – The US Public Company Accounting Oversight Board's Activity Abroad

12 May 2020

The watchdog for auditors of US public companies has been focused for some time on audits of foreign issuers on US exchanges—especially foreign issuers whose principal auditors are outside the United States.

The US Public Company Accounting Oversight Board ("PCAOB" or "Board"), under oversight by the SEC, was established by the Sarbanes-Oxley Act of 2002 to "oversee the audits of public companies in order to protect investors and the public interest by promoting informative, accurate, and independent audit reports." This mandate includes issuing rules and guidance, conducting inspections, and enforcement.

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