6. PCAOB vs AICPA 1881

PCAOB vs AICPA 1881

  • B

    Can some one help me I need clarification??.. Comparing the powers of PCAOB and AICPA do you think this initiative might affect the accounting profession?
    Thanks
    Betty

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  • M

    Hi,
    Although I do not have a relevant document to share, you might find it helpful to review recent litigation and a judicial decision that was made whereby the constitutionality of SOX and governing bodies (PCAOB) was recently challenged. It is my understanding that the decision was in support of the legitimacy of the Sarbanes-Oxley Act and governing authorities.
    This legal case and the legal basis for the decision might contain information with specific information about the PCAOB. Then, you can research AICPA and should find plenty of information about them since they are long since established in the Accounting industry.
    Good luck,
    Milan

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  • H

    Hi Betty and welcome to the forums 🙂 The links below complement Milan’s post regarding general information on both entities.
    AICPA provides a professional organization for CPAs on a voluntary basis (e.g., they pay annual membership dues), where as PCAOB was created by the SEC for Auditors (including those with CPA designations) and they more focused on SOX rules interpretations and governance.
    The following 3 links might be helpful for further research and if you have additional questions, please also feel free to share here.
    For Links Below, please add www and paste to browser as direct links aren’t allowed in forums
    Three links for each organization
    1st link = General Internet search
    2nd link = Home Page for each
    3rd link = Key SOX info for each
    PCAOB Links
    google.com/search?hl=en-and-lr=-and-q=PCAOB
    pcaobus.org/
    pcaobus.org/About_the_PCAOB/Sarbanes_Oxley_Act_of_2002.pdf
    AICPA Links
    google.com/search?hl=en-and-lr=-and-q=AICPA
    aicpa.org/
    Note - www is NOT NEEDED for this last link below, please copy and paste entire link to browser
    cpcaf.aicpa.org/Resources/Sarbanes Oxley/

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  • A

    I’ve been reading that the proposed reforms to AS2 are getting lots of criticism from financial execs lately, which might lead to an even greater delay in its implementation. There is a story about this in the latest edition of Compliance Week.
    Does anyone know whether the comments/criticisms sent to the PCAOB are available for viewing online (similar to the SEC website)?
    Thanks

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  • K

    Does anyone know whether the comments/criticisms sent to the PCAOB are available for viewing online (similar to the SEC website)?
    Thanks
    They can be found here - http ://www.pcaobus.org/Rules/Docket_021/index.aspx
    Paste the link in your browser and delete the space after http.

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