The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports. The PCAOB also oversees the audits of brokers and dealers, including compliance reports filed pursuant to federal securities laws.
The PCAOB has four primary duties:
- Register public accounting firms that prepare audit reports for issuers, brokers, and dealers.
- Establish or adopt auditing and related attestation, quality control, ethics, and independence standards.
- Inspect registered firms’ audits and quality control systems.
- Investigate and discipline registered public accounting firms and their associated persons for violations of specified laws, rules, or professional standards.
In support of the board’s mission, they also conduct economic research and risk analysis, engage with they stakeholders and other domestic and international regulators, and manage a talented workforce and the technology and resources they need to perform our duties.
The SEC has oversight authority over the PCAOB, including the approval of the Board’s rules, standards, and budget.
The PCAOB has approximately 800 staff members. The Board maintain their headquarters in Washington, D.C., and have nine regional offices across the United States. In 92 jurisdictions across the globe, 1,726 public accounting firms are currently registered with us. Of those PCAOB-registered firms, 577 firms audit 12,567 issuers that file financial statements with the SEC or otherwise play a substantial role in those audits.
Those issuers, which include 7,493 public companies, represent $54.35 trillion in global market capitalization. In addition, 359 registered firms perform audits of almost 3,498 SEC-registered broker-dealers or otherwise play a substantial role in those audits. Of those broker-dealers, 172 carry customer assets of approximately $3.79 trillion.
ELKANA AMITAI CPA registered under the PCAOB, and eligible to file reports with the SEC provides audit and review services to companies who traded in the US.
Our experience of advising listed companies, combined with our position as one of the few practices with a full service offering in both Israel and the US, allows us to offer you a unique and cost-effective service at a transparent, fixed price.
If you would like to discuss how we can tailor this service to meet your company’s particular requirements, please contact us.