Sec Division of Examinations Announces 2023 Priorities for Success

SEC rep;ort

The Public Company Accounting Oversight Board (PCAOB) has a vacancy that will become effective in October, and the Securities and Exchange Commission has announced the beginning of the selection process to fill the position.

SEC’s Steps

The term for the PCAOB appointment is five years, beginning in October 2023 and ending in October 2028. Given the existing makeup of the PCAOB Board, the chosen candidate will need to be or have been a CPA.

The Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board (PCAOB) to oversee registration, standard-setting, inspection, and disciplinary programs related to audits of publicly traded companies and registered broker-dealers. The SEC is responsible for monitoring the PCAOB.

The PCAOB is governed by a five-person board, of which two must be or has been CPAs and three must not be or have been CPAs. Members of the board must have a track record of protecting investors and the public’s best 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 SEC‘s Office of the Chief Accountant oversees the selection of PCAOB Board members. If you meet the statutory criteria and would like to be considered for a position as a Board Member of the PCAOB.

please email – [email protected] by March 7, 2023, with (1) a cover letter discussing the statutory qualifications summarized above and described more completely in the Act; and (2) your current résumé or curriculum vitae.

Leave a Reply

Your email address will not be published.