The Public Company Accounting Oversight Board (PCAOB) will host a webinar next month with the prime focus being auditor requirements for Form AP for PCAOB-registered firms auditing smaller public companies.
Officials said during the Oct. 18 session PCAOB presenters would
address the requirement that went into effect on June 30, 2017, to disclose information about other firms that participated in an audit while also highlighting other aspects of the new rules.
“Important new auditor transparency requirements recently went into effect and we want to be sure all firms have the information they need,” James R. Doty, PCAOB chairman, said. “PCAOB webinars are an efficient way to reach audit firms with timely and targeted information.”
Doty noted that PCAOB rules require the disclosure of other accounting firms participating in an audit on Form AP for audit reports issued on or after June 30, 2017. Firms have been required to disclose the names of audit engagement partners on Form AP since Jan. 31, 2017.
“This is one of many outreach efforts undertaken by the Board and staff to assist auditors in understanding the new requirements for Form AP,” Greg Scates, director of the PCAOB Office of Outreach and Small Business Liaison, said.
The information disclosed on Form AP is available to the public through AuditorSearch, a database on the PCAOB website. More information on Form AP can be found on the Form AP resources page.