PCAOB Adopts HFCAA Determination Framework



Last week, the Public Company Accounting Oversight Board (PCAOB) held an open meeting to decide on the adoption of a new rule concerning the PCAOB’s responsibilities under the Holding Foreign Companies Accountable Act (HFCAA). The rule, which provides a framework for the board to use when determining whether it us unable to inspect or investigate completely registered public accounting firms located in a foreign jurisdiction due to certain positions taken by one or more authorities in that jurisdiction was adopted.
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Source: PCAOB

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