PCAOB Finds Goldstein Lewin Adheres to Its High Standards
The Sarbanes-Oxley Act of 2002 changed the landscape of public company accounting.
As a result of this legislation, accounting firms that audit public companies must register with the Public Company Accounting Oversight Board (PCAOB) and are subject to periodic inspection by this Board.
During these inspections, the PCAOB uses several criteria to evaluate registered firms with regard to the work performed and the reports issued:
- Compliance with the provisions of Sarbanes-Oxley and PCAOB and Securities and Exchange Commission rules
- Adherence to high professional standards
Because Goldstein Lewin audits fewer than 100 public companies, the PCAOB is required to conduct an inspection at least once every three years. Accounting firms that audit more than 100 public companies are inspected annually. After each inspection, the PCAOB issues a report, the public portions of which appear on its website at www.pcaobus.org/Inspections.
Goldstein Lewin's first inspection took place the week of September 19th when PCAOB staff members reviewed our performance and our quality control procedures. We are pleased to announce that the review teams did not identify any performance or quality control issues to be reported.
Goldstein Lewin also undergoes a rigorous review of our assurance practice through the American Institute of Certified Public Accountants (AICPA). In our last independent peer review, the review firm noted our conformance with the high quality control standards established by the AICPA.
