The US Public Company Accounting Oversight
Board (PCAOB) has signed an oversight agreement with the German
Auditor Oversight Commission (AOC).

The agreement enables joint inspections and
includes provisions governing the exchange of confidential
information between the AOC and the PCAOB, consistent with
provisions of the Dodd-Frank Wall Street Reform and the US Consumer
Protection Act.

“This agreement with the German audit
regulator is a very significant step forward in our pursuit to
improve audit quality and protect investors,” PCAOB chairman James
Doty said.

To date, the PCAOB has struck an agreement
with the UK, Swiss, Norwegian and Dutch regulators.