The PCAOB recently co-hosted a two-day conference in Washington D.C., together with the journal Management Science. The event, organized by the PCAOB’s Office of Economic and Risk Analysis, brought together more than 115 researchers to discuss how academic work can inform auditing standards and oversight.

Acting chair George Botic, in his remarks at the conference, emphasized that academic research provides important context for the PCAOB’s economic analyses, particularly when weighing the costs and benefits of standards. He described how the staff routinely draw on conceptual and empirical findings to support the Board’s work and noted the importance of continuing collaboration with the academic community. 

A PCAOB release stated that the board and Management Science chose nine research proposals on the basis of their presentation at the conference. These were chosen out of the 103 submitted after the PCAOB’s call for proposals.

The proposals looked at three larger themes. These are the utilization of technology in the audit, audit market structure and incentives, and critical audit and financial reporting processes. There were also specific topics included in the discussions during the conference such as audit engagements affecting auditors and audit outcomes as well as the scope and possible implications of private equity investing in accounting firms.

Participants also talked about recent studies analyzing how stakeholders perceive audited financial statements and the PCAOB’s role in protecting investors. Aside from the proposals, the conference was a forum to connect researchers, regulators, and students who are considering careers in accounting and auditing.