The Public Company Accounting Oversight Board (PCAOB) filed proposed rules with the Securities and Exchange Commission (SEC) regarding Firm Reporting and Firm and Engagement Metrics. These rules were initially set for a public comment period ending in late December 2024 and early January 2025. However, the SEC decided to extend the comment period by an additional 21 days to allow for more public input, moving the deadlines to February 4, 2025. Additionally, the deadlines for the SEC to decide on the approval or disapproval of the proposed rules have been extended to early March 2025.
Simple Explanation
The Public Company Accounting Oversight Board wants to make new rules about how accounting firms report their work, and they gave people more time to share their thoughts. The new deadline for comments is February 4, 2025, so that everyone can have a say.