Subject PCAOB Rulemaking Docket Matter No Form

Instructions and help about Subject PCAOB Rulemaking Docket Matter No

hello and welcome to this session in which we will discuss the pcaob and the SEC Independence rules in the prior session we looked at the aicpa Independence rules what is the difference between the two when we discuss aicpa independence rule we are referring to Auditors that audit private companies when it comes to pcaob and the SEC we are dealing with Auditors that audit publicly traded companies which are called issuers issuers pcaob non-issuers which are private aicpa remember Independence is the Cornerstone of auditing why because when when a CPA perform an audit there are three parties involved in this process we have the CPA themselves we have the company cpa1 company 2 and we have the users of financial statements three now the company or the client hires the CPA and actually pays the CPA to perform an audit on the company the audit on the financial statements of the company however the intended users of the financial statements are a third party so although the company party 2