Mastering the PCAOB's New Extensive Reporting Mandate on Firm Activities

Preparing Now to Meet Annual and Special Disclosure Requirements

Form 3 required as early as Feb. 1

Recording of a 110-minute CPE webinar with Q&A

Conducted on Tuesday, October 27, 2009

Recorded event now available

or call 1-800-926-7926
Course Materials

This seminar will prepare accounting firm leadership and professionals to thoroughly and fully comply with filing the PCAOB's revised Forms 2 and 3.


The PCAOB's recently ratified annual Form 2, to be filed by accounting firms that audit public entities, is anything but routine. Accounting firms' forms will be posted on the PCAOB's website for public review. The contents can trigger a PCAOB inspection or even an SEC enforcement action.

PCAOB-registered firms must file Form 2 by June 30, 2010. Form 2 requires a detailed report of a firm's business activities, roles of its partners, its new audit clients and other sensitive information. Form 3, to report certain "special events," might need to be filed as soon as February 2010.

Preparation of either form for the first time must be a deliberative process involving much of the firm's leadership. Accounting professionals need to become proficient now with the PCAOB's new rules in order to make a complete, fully compliant disclosure.

Listen as our panel of accounting veterans, all well-versed in PCAOB requirements, explains what your firm will have to disclose in the new Form 2 and Form 3 and offers suggestions on where to obtain the necessary information and how to present it concisely.



  1. Background
    1. Post-Sarbanes-Oxley reporting by public company auditors
      1. PCAOB didn’t exercise its SarBox authority to require annual reports
      2. Only registration required, on PCAOB Form 1
  2. Terms of new PCAOB reporting rules
    1. Proposed by PCAOB in June 2008, approved by SEC Aug. 13, 2009
    2. New Form 2 annual report
      1. E.g. share of fees attributable to audit and attest
      2. List of who in firm can sign audit reports
      3. All alliances, partnerships, associations to which firm belongs
      4. Information about public company audit clients in past year, engagements on which firm wasn’t primary auditor
      5. Any acquisitions of other firms
    3. New Form 3 special events form
      1. E.g. firm withdraws any audited financials
      2. Firm or partner becomes involved in civil or criminal proceeding
  3. Recommendations for preparing for first filings of Form 2 and Form 3
    1. Enlisting others in firm to obtain needed information


The panel will prepare you for these new compliance demands:

  • Completing the first Form 2: What must be disclosed about audit and attest fees, audit signatory authority, partnerships and alliances, acquisition activity, etc.
  • Completing the first Form 3: Which special events, such as withdrawal of audited financials or civil or criminal proceedings, trigger a filing obligation.
  • Understanding the implications: Preparing a compliant form that doesn't bring PCAOB inspection or SEC enforcement, without disclosing any unnecessary sensitive firm information.


Mary Peters
Mary Peters
Assistant General Counsel
Public Company Accounting Oversight Board

She joined the PCAOB in November 2006 after working for the Zuckerman Spaeder LLP law firm in white collar criminal...  |  Read More

Walter McNairy
Walter McNairy

Member and Director of SEC Services
Dixon Hughes

He is responsible for ensuring compliance with emerging guidance applicable to the firm's public company clients. He...  |  Read More

Barry Smith
Barry Smith
Accounting Consultant

Until recently, he was the Technical Review Managing Director of attest services at SMART - Accounting and Consulting...  |  Read More

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