The Public Company Accounting Oversight Board (PCAOB) is mandated by Section 101 of the Sarbanes-Oxley Act of 2002. The oversight board annually inspects accounting firms that audit 100 or more public companies. Firms auditing fewer than 100 public companies are inspected once every three years. The board's budget ($136 million for fiscal year 2007) is funded by publicly traded companies. More than 1,600 accounting firms in 80 countries are registered with the board. The Securities and Exchange Commission appoints the board's five, full-time members, two of which must be certified public accountants. Mark Olson is the board's current chairman. Altogether, the board employs about 450 employees.

 

PCAOB Adopts New Rules for Accounting Firms (06/11/08)

 

PCAOB to Consider New Reporting Rules (06/04/08)

 

PCAOB Announces Roundtable On Non-U.S. Auditor Reliance (05/15/08)

 

 

PCAOB Releases Five-Year Plan (04/03/08)

 

PCAOB Proposes Engagement Quality Review  (02/28/08)

 

PCAOB Announces SAG Meeting on Public Audits, IFRS (02/15/08)

 

 

Study Finds 404 Cost for Smaller Cos. (01/11/08)

 

Congress Causes Biggest Tax Problem (01/10/08)

 

PCAOB Issues Staff Audit Practice Alert on Fair Value (12/28/07)

 

PCAOB to Consider Proposal to Enhance International Cooperation in Inspections (12/03/07)

 

PCAOB CFO Resigns (10/30/07)

PCAOB Issues Guidance on Auditing Controls in Smaller Companies (10/18/07)

 

PCAOB Approves Changes to Inspection Frequency (10/17/07)

 

PCAOB Board Member Kayla Gillan to Step Down (09/20/07)

 

SEC Appoints Financial Reporting Committee Members (08/01/07)

 

PCAOB Inspection Report Reveals Deficiencies in KPMG Audits in 2006 (07/30/07)

 

SEC Approves New Auditing Standard (07/26/07)

 

PCAOB Proposal Requires Auditor-Independence Declaration (07/25/07)

 

Nasdaq Suggests AS5 Changes (07/25/07)

 

PCAOB to Consider Ethics Proposal, Amendment to Tax Rule (07/20/07)
 
PCAOB Teams Up With Aussie Regulators (07/17/07)

 

PCAOB Incumbent Goelzer Reappointed to Second Term  (07/03/07)

 

Inspection by Accounting Board Prompts Deloitte to Revisit Some Audits (06/20/07)

 

PCAOB Approves New Audit Standard (05/24/07)

 

PCAOB Names New Research Director (05/16/07)

 

PCAOB Names Communications Director (05/15/07)

 

PCAOB Concludes First International Auditor Regulatory Institute (05/07/07)

 

Ernst & Young Audits Faulted in Report (05/03/07)

 

PCAOB Issues Second Year Report on Internal Controls  (04/20/07)

 

PCAOB Proposes Expanded Explanations on Financial Restatements  (04/04/07)

 

PCAOB to Consider Additions to Interim Standards (04/02/07)

 

PCAOB Meets With EU Commissioner on Auditor Oversight (03/07/07)

 

Bill Requires Testimony From Accounting Regulators (03/02/07)

 

PCAOB Issues Report on Auditor's Fraud Responsibility (01/23/07)

 

PCAOB Critiques E&Y, KPMG (01/16/07)

 

PCAOB Schedules More Small Biz Forums (01/05/07)

 

PCAOB Votes 5-0 to Revise Section 404 (01/04/07)

 

SEC Approves PCAOB's 2007 Budget (12/05/06)

 

PCAOB Announces Two Staff Departures (10/05/06)

 

SEC, PCAOB Chiefs Testify on SOX (09/20/06)

 

Former Freddie Mac CFO Joins PCAOB (09/14/06)

 

PCAOB Issues Alert to Auditors on Backdating (07/31/06)