SEC Issues Statement on Public Company Accounting Oversight Board Seat
June 24, 2019
June 24, 2019
WASHINGTON, June 24 -- The Securities and Exchange Commission issued the following statement by Acting Chief Accountant Sagar Teotia:
"The Public Company Accounting Oversight Board ("PCAOB") is one of the centerpieces of the Sarbanes-Oxley Act of 2002 ("SOX"). SOX provides that the PCAOB is governed by a Board of five members -- two of whom must be certified public accountants, and three of whom must not be -- serving for staggered five-year terms.
"The Public Company Accounting Oversight Board ("PCAOB") is one of the centerpieces of the Sarbanes-Oxley Act of 2002 ("SOX"). SOX provides that the PCAOB is governed by a Board of five members -- two of whom must be certified public accountants, and three of whom must not be -- serving for staggered five-year terms.