Regulators

PCAOB pauses Standard Advisory Group membership process

The move comes as part of a wider initiative to direct staff to reassess the group’s stakeholder engagement efforts

The Public Company Accounting Oversight Board (PCAOB) has paused the nomination process for membership in its recently announced Standards Advisory Group.

Revealed through the organization’s acting chairperson, Duane DesParte, the move comes as part of a wider initiative to direct staff to reassess the group’s stakeholder engagement efforts.

Already submitted nominations will be considered following the reevaluation and composition of the advisory groups is finalised.

Meanwhile, the PCAOB stated that additional nominations that have not yet been submitted will be solicited at that time.

DesParte said: “It is crucial we seek a comprehensive and diverse array of perspectives and advice to best inform our oversight work and advance our mission of investor protection.

“Listening carefully to the feedback we have received and reflecting on our work in many areas, including our engagement with the investor community, I believe it is important to reassess our current path to ensure all stakeholders are represented at the table and that their voices are heard.”

She added that that group “appreciate[s] all those who have stepped up as nominees” and encourages them to “continue to engage with us as we work to enhance our ongoing outreach efforts”.

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