Auditing


The SEC defers until January 1, 2005, a requirement that auditors of nonpublic broker-dealers register with the Public Company Accounting Oversight Board (PCAOB) ( www.sec.gov/rules/other/34-48281.htm ). The Sarbanes-Oxley Act of 2002 required auditors of financial statements of public companies or “issuers,” as defined in the act, to register by October 22 but did not establish a deadline by which auditors of broker-dealers that do not issue securities must register. While the deferral could end earlier if, in the interim, the SEC issues rules that say so, it now permits privately held broker-dealers to file annually with the commission and send their customers a balance sheet certified by an independent public accountant not registered with the board. Meanwhile the commission is assessing the applicability of registration requirements and procedures to nonpublic broker-dealers.

SPONSORED REPORT

Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

QUIZ

News quiz: Senate health care bill in the spotlight

Reports related to the Republican bill to repeal many provisions of the PPACA, other tax issues, and the giant AICPA ENGAGE Conference offered a diverse reading list for June. See how much you know about recent news with this short quiz.