The Public Company Accounting Oversight Board is allowing those audit firms registered with the agency a maximum 45-day relief period from inspections during the coronavirus pandemic in the hope it will give those firms the “time, resources, and flexibility” to flesh out matters of importance with their issuer and broker-dealer clients.
The board says COVID-19 presents challenges to investors, issuers, auditors, regulators, and dealers. In order to maintain the accuracy and integrity of financial statements during the crisis, it will be operating under two considerations:
