German and US Regulators Enter into a Cooperative Agreement
The German Auditor Oversight Commission (AOC) and the Public Company Accounting Oversight Board of the United States (PCAOB) have entered a cooperative agreement.
The Statement of Protocol (SoP) agreement allows the exchange of confidential information of firms performing in both jurisdictions. This agreement should enhances the supervisory oversight, inspections and investigations of those firms. The SoP is effective immediately.
The two regulators have also signed a data protection agreement. This agreement will ensure that national data protection requirements are performed during any transfer of information.
- Big Four Firms Dominate the List of Cyber Security Recruiters
- Accountancy bodies Working Together Against Businesses Involved in Money Laundering
- Xero Reports Revenue Growth of 36% in the FY 2019
- FASB Provides Financial Institutions with Fair Value Option to Ease through the CECL Transition
- Kraft Heinz Reveals $181m in Accounting ‘Misstatements’
- KPMG Hit with a £6m over Audit of Lloyds Syndicate
- Property Dealer Banned over £5.6m Accounting Failure