In order to fill a position on the Public Company Accounting Oversight Board (PCAOB) that will open up in October, the Securities and Exchange Commission has begun the selection process.
Public Company Accounting Oversight Board Applicant
This appointment to the PCAOB will last for five years, from October 2023 to September 2028. In order to be eligible for appointment to the PCAOB Board, the chosen candidate must be or have been a CPA.
To monitor audits of publicly traded businesses and registered broker-dealers, the Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board (PCAOB), which is responsible for registration, standard-setting, inspection, and disciplinary procedures. The PCAOB operates under the watchful eye of the SEC.
Two of the PCAOB’s five board members must be CPAs or have been CPAs, while the other three can’t have either. Members of the board must have a track record of protecting investors’ interests, as well as knowledge of the financial disclosures issuers, brokers, and dealers are obligated to make under the securities laws and the responsibilities of accountants in preparing and issuing audit reports related to those disclosures.
The Office of the Chief Accountant at the Securities and Exchange Commission oversees the appointment of PCAOB Board members. To be considered for a position as a PCAOB Board Member, interested parties who meet the statutory criteria should send: (1) a cover letter discussing the statutory qualifications
summarized above and described more completely in the Act; and (2) a current résumé or curriculum vitae to [email protected] by no later than March 7, 2023.
