|
The Statement of Protocol between the FRC and the PCAOB facilitates effective cooperation between the two organisations and allows for joint work on inspections and exchanges of otherwise confidential information against the background of an audit market that is increasingly global in nature. The agreement reflects the common objective of seeking improvements to audit quality, protecting investors and promoting efficient capital markets.
Paul George, Executive Director of the Conduct Committee and a co-signatory of the Statement of Protocol, said: “The FRC and the PCAOB have developed an excellent working relationship in recent years, which has provided the basis for increasing confidence in one another’s regulation of major audit firms".
Statement of Protocol between the FRC and the PCAOB