• Register
Return to: Home > News > Advisory > Opening at the PCAOB – not for accountants!

Opening at the PCAOB – not for accountants!

The Public Company Accounting Oversight Board (PCAOB) is seeking to appoint a new board member for a five-year year. The Sarbanes-Oxley Act (SOX) of 2002 stipulates that the PCAOB is governed by a board of five members — two of whom must be certified public accountants, and three of whom must not be — serving for staggered five-year terms.

In December 2017, Kathleen M. Hamm was appointed to the PCAOB voard and is serving in the 2014-2019 term. That term expires in October 2019. While she is eligible for reappointment, the process is also open to other applicants.

This process is administered by the SEC’s Office of the Chief Accountant. Individuals interested in being considered for this position should notify the Office of the Chief Accountant.

SOX requires that PCAOB Board members be “appointed from among prominent individuals of integrity and reputation who have a demonstrated commitment to the interests of investors and the public, and an understanding of the responsibilities for and nature of the financial disclosures required of issuers, brokers, and dealers under the securities laws and the obligations of accountants with respect to the preparation and issuance of audit reports with respect to such disclosures.”

Due to the current composition of the board and the requirement that three members of the board not be CPAs, it is expected that the candidate selected for the 2019-2024 term will not be a CPA.

Top Content

    South Africa: sensing new opportunities

    It has been an interesting couple of years for the profession in South Africa. A number of high-profile scandals have brought the profession and the role of auditors into sharp public focus, brewing a distrust towards accountants and a large expectations gap. Joe Pickard reports.

    read more

    Ghana: a quest for consistency

    Ghana’s current economic profile would suggest a fertile landscape for purveyors of accounting services. But inconsistent approaches to compliance and application of standards – coupled with problems in the banking sector and consequent liquidity constraints – have created a challenging environment. Paul Golden writes.

    read more

    Drone technology: audit takes to the skies

    The movement towards a digitised era has already impacted the auditing profession in a number of ways, from blockchain to artificial intelligence. Now firms are taking to sky and using drone technology in their audits. Mishelle Thurai speaks to Big Four firms to find out more.

    read more

    SBC: a new alliance joins the market

    Jonathan Minter speaks to Paul Tutin, chair of founding firm Streets Chartered Accountants, about why the business and its European partners took the decision to launch their own association.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.