Search Results for keywords:"Public Company Accounting Oversight Board"

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Search Results: keywords:"Public Company Accounting Oversight Board"

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  • 2024-30600 — Order Approving Public Company Accounting Oversight Board Budget and Annual Accounting Support Fee for Calendar Year 2025
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    Type:Notice
    Citation:89 FR 104594
    Reading Time:about 4 minutes

    The Securities and Exchange Commission (SEC) has approved the Public Company Accounting Oversight Board (PCAOB) budget and annual accounting support fee for 2025, in accordance with the Sarbanes-Oxley Act. The SEC reviewed the PCAOB's proposed budget, ensuring it aligns with recoverable expenses, and emphasized the importance of operational efficiency. The PCAOB is directed to maintain regular communications with the SEC regarding any budget adjustments and to submit a reduced spending plan due to sequestration cuts. The Budget Control Act of 2011 requires sequestration of $22.8 million for 2025, slightly reducing available funds for the PCAOB.

    Simple Explanation

    The government said "yes" to a big group's (PCAOB) plan for money they need in 2025 to keep an eye on other companies’ money matters. They also asked the group to spend a little less because some extra savings need to be made.

  • 2024-28148 — Public Company Accounting Oversight Board; Notice of Filing of Proposed Rules on Firm Reporting
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    Type:Notice
    Citation:89 FR 96712
    Reading Time:about 7 hours

    The Public Company Accounting Oversight Board (PCAOB) has proposed new rules requiring audit firms to disclose more information to improve transparency and oversight. These rules include reporting on financial and governance details, special events, and cybersecurity issues. The changes aim to enhance investor confidence and the PCAOB's regulatory functions. To ease the transition, the new requirements will be implemented in phases, with larger firms required to comply first.

    Simple Explanation

    The PCAOB wants companies that check big businesses' money books to share more information to help people trust them more. They're making new rules, like telling about money secrets and computer problems, and they'll start with the biggest companies first, so everyone knows what's going on.

  • 2025-02700 — Public Company Accounting Oversight Board; Notice of Withdrawal of Proposed Rules on Firm Reporting and Firm and Engagement Metrics and Related Amendments to PCAOB Standards
    Type:Notice
    Citation:90 FR 9746
    Reading Time:about 2 minutes

    The Public Company Accounting Oversight Board (PCAOB) had filed proposed rules on Firm Reporting and Firm and Engagement Metrics with the Securities and Exchange Commission (SEC). These proposals were initially published in the Federal Register for public comment in December 2024. However, on February 11, 2025, the PCAOB decided to withdraw these proposed rules before the SEC made a final decision on them. The withdrawal means that the rules will not be adopted or enforced.

    Simple Explanation

    The PCAOB wanted to make new rules about how accounting companies report information, but then decided not to go ahead with these rules before anyone could say "yes" or "no" to them. Now, these rules won't be used or become a part of the law.

  • 2021-01311 — Public Company Accounting Oversight Board; Order Granting Approval of Amendments to PCAOB Interim Independence Standards and PCAOB Rules to Align with Amendments to Rule 2-01 of Regulation S-X
    Type:Notice
    Citation:86 FR 6708
    Reading Time:about 13 minutes

    The Public Company Accounting Oversight Board (PCAOB) has made amendments to align its rules with changes made by the Securities and Exchange Commission (SEC) to Rule 2-01 of Regulation S-X. These changes aim to reduce duplicate requirements and potential differences by updating standards related to auditor independence, particularly concerning lending arrangements. The SEC reviewed comments from various stakeholders and concluded that the amendments were necessary to safeguard investors and improve audit practices. The rules will apply to audits of emerging growth companies to ensure consistency and improve efficiency within the industry.

    Simple Explanation

    The Public Company Accounting Oversight Board updated its rules to match changes made by the Securities and Exchange Commission so everyone checks audit companies the same way, especially about who they can borrow from. This is to keep things fair and make sure the people looking at companies' money are not being tricky.

  • 2024-29635 — Sunshine Act Meetings
    Type:Notice
    Citation:89 FR 101673
    Reading Time:less than a minute

    The Securities and Exchange Commission (SEC) has announced an Open Meeting scheduled for December 18, 2024, at 10:00 a.m. Eastern Time. The meeting will be accessible to the public via a webcast on the SEC's website. During this meeting, the Commission will discuss whether to approve the 2025 Final Budget and Accounting Support Fee for the Public Company Accounting Oversight Board. For more information, Vanessa A. Countryman from the Office of the Secretary can be contacted.

    Simple Explanation

    The SEC is having a meeting, which anyone can watch online, to decide if they should agree to next year's spending plan for a group that checks how companies do their accounting.