PCAOB Announces Dec. 13 Webinar for Broker-Dealer Auditors

Chris Gaetano
Published Date:
Nov 15, 2016
Taking Notes

The Public Company Accounting Oversight Board (PCAOB) announced it will be holding a Dec. 13 webcast for broker-dealer auditors on the use of service organizations, focusing in particular on recent broker-dealer audit inspection findings in applying AS 2601, (currently AU sec. 324), Consideration of an Entity's Use of a Service Organization.

Broker-dealer auditors have been an area of concern for the PCAOB due to inspectors finding high levels of audit deficiencies. Its most recent annual report, issued in August, said that inspectors identified deficiencies in the work of 96 percent of the audit firms inspected. Further, inspectors found deficiencies in 78 percent of compliance reports examined, and 34 percent of exemption report reviews. 

"This webinar is one of the tools the PCAOB uses to reach out to broker-dealer auditors about specific areas of difficulty noted in recent inspections," said James R. Doty, PCAOB Chairman.

 The webinar is scheduled for Dec. 13 from 2 p.m. to 4 p.m. eastern standard time, and is opened to members of PCAOB-registered firms. The webinar is free, but participants must register by Dec. 8. People will be able to earn CPE for participating. 

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