The Public Company Accounting Oversight Board (PCAOB) has reached agreements with a pair of French and Belgian audit regulators.
The deals with the Haut Conseil du Commissariat aux Comptes (H3C) and Belgian Audit Oversight College (CTR-CSR) will facilitate cooperation between the organizations in the oversight of audit firms subject to the jurisdiction of the regulators.
First entering into an agreement in 2013, the PCAOB and H3C arrangement expired in 2019.
As of the latest agreement, the exchange of confidential information and transfers of personal data will now be possible.
William Duhnke III, chairman of the organization, said: “This agreement marks another milestone in our longstanding and constructive relationship with the H3C.
“Our two organizations share a strong commitment to international cooperation as a means to enhance audit quality and strengthen investor protections.”
Via the Belgian deal, the group is now able to inspect all PCAOB-registered accounting businesses located in a European country that issue audit reports for public companies listed in the US capital markets.
Duhnke added: “The cooperative agreements we have in place with our European counterparts reflect the depth of transatlantic cooperation we have enjoyed over the years and highlight our mutual commitment to independent audit oversight, investor protection, and transparency in the capital markets.”