Does the audit firm have to be registered with the Public Company Accounting Oversight Board (PCAOB)?
According to the PCAOB, Staff Questions and Answers # 26 on Auditing Standard No. 2 Internal Control dated June 23, 2004 and revised on July 27, 2004, the CPA firm performing the SAS 70 audit does not have to be registered with the PCAOB, unless the information included in the SAS 70 plays a substantial role in the financial auditors opinion. Normally, this is not the case and thus a non-PCAOB registered CPA firm can perform your SAS 70 audit. HA is not a member of the PCAOB because the SAS 70 audits we perform for our client base does not play a substantial role in their customers financial audits. Many of our clients have publicly traded customers and their auditors have been satisfied with our report and non-member status of the PCAOB. However, HA is registered with the AICPA and is a member of the AICPA Peer Review program as well as being licensed in each state we perform services in. By participating in the Peer Review Program, we are audited every three years for compliance with
Related Questions
- Can a registered public accounting firm in the integrated audit of an issuer obtain evidence from a service auditors report issued by a non-registered public accounting firm?
- Does the audit firm have to be registered with the Public Company Accounting Oversight Board (PCAOB)?
- Is BrightLine registered with the Public Company Accounting Oversight Board (PCAOB)?
