The Public Company Accounting Oversight Board, or PCAOB, doesn't tend to come into direct contact with most companies. Instead, since the Sarbanes-Oxley Act of 2002, its remit has been to monitor accounting firms that perform audits on public companies.
However, there can be indirect influences. PCAOB sets standards for auditors, which then require public companies to comply. Those end companies have to comply in financial statements and also internal controls, which can affect how the companies interact with vendors, business partners, and customers.
A new report from PCAOB — Spotlight: Auditing Considerations Related to Commercial Real Estate — touches on multiple aspects of how public companies handle CRE properties. All are guidance for auditors when they review financial statements of client companies.
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