PCAOB Invites Auditors of Brokers and Dealers to Participate in Its 2012 Forum on Auditing Smaller Broker-Dealers

Sarah Woodman, Global events journalist
March 02, 2012 /

The Public Company Accounting Oversight Board will host the Forum on Auditing Smaller Broker-Dealers in Chicago, Houston, Jersey City, and San Diego in 2012.

The agenda for the first two meetings, in Chicago and Houston, also released simultaneously. It is substantially the same agenda as the 2011 forums, which were held in Jersey City and Huntington Beach. Firms that attended a forum in 2011 should attend either the Jersey City or San Diego forum scheduled for later in 2012, since it is anticipated that the content in these sessions will be updated.

“We find these forums useful because they give us a chance to hear from auditors of smaller broker-dealers about the issues and challenges they are facing,” said James R. Doty, PCAOB Chairman.

“Scaling the rules appropriately to reflect distinctions in business models of brokers and dealers will be an important aspect of our process.”

These forums provide a unique opportunity for PCAOB-registered public accounting firms auditing brokers and dealers to interact with PCAOB Board members and staff and to learn more about the PCAOB. They are hosted by a Board member of the PCAOB

They also enable the PCAOB to hear the comments and concerns of auditors working with smaller brokers and dealers and to consider this feedback as the Board continues its rulemaking.

The 2012 forum agenda for the first two meetings includes:

Overview of PCAOB programs
Interim inspection program for audits of brokers and dealers
Overview of the inspection process
Update on inspection findings
Proposed auditing standards applicable to audits of brokers and dealers

The program also includes presentations from representatives of both the Securities and Exchange Commission and the Financial Industry Regulatory Authority. It will end with a regulatory panel discussion.

Registration is limited to PCAOB-registered firms that audit brokers and dealers. There is no fee charged to participate in these events but preregistration is required. Attendees also have the opportunity to earn continuing professional education credits.

The 2012 schedule is as follows:

Chicago, Ill., April 26
Houston, Texas, May 23
Jersey City, N.J., Oct. 25
San Diego, Calif., Nov. 8


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