Notice2024-18491
Public Company Accounting Oversight Board; Extension of Approval Periods for Proposed Rules on a Firm's System of Quality Control and Related Amendments to PCAOB Standards, Proposed Rules on Amendments Related to Aspects of Designing and Performing Audit Procedures That Involve Technology-Assisted Analysis of Information in Electronic Form, and Proposed Rules on Amendment to PCAOB Rule 3502 Governing Contributory Liability
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
August 19, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 160 (Monday, August 19, 2024)</title>
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[Federal Register Volume 89, Number 160 (Monday, August 19, 2024)]
[Notices]
[Page 67117]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-18491]
[[Page 67117]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-100724; File Nos. PCAOB-2024-02, PCAOB-2024-03, PCAOB-
2024-04]
Public Company Accounting Oversight Board; Extension of Approval
Periods for Proposed Rules on a Firm's System of Quality Control and
Related Amendments to PCAOB Standards, Proposed Rules on Amendments
Related to Aspects of Designing and Performing Audit Procedures That
Involve Technology-Assisted Analysis of Information in Electronic Form,
and Proposed Rules on Amendment to PCAOB Rule 3502 Governing
Contributory Liability
August 13, 2024.
On May 24 and June 20, 2024, the Public Company Accounting
Oversight Board (``PCAOB'') filed with the Securities and Exchange
Commission (``Commission''), pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4
thereunder,\2\ the proposed rules referenced above (collectively, the
``proposed rules'').\3\ The Quality Control Proposed Rules were
published for comment in the Federal Register on June 11, 2024. The
Technology-Assisted Analysis Proposed Rules and Contributory Liability
Proposed Rules were each published for comment in the Federal Register
on July 2, 2024.\4\ The Commission provided a 21-day public comment
period for the proposed rules,\5\ which ended on July 2 for the Quality
Control Proposed Rules and July 23, 2024 for the Technology Assisted
Analysis Proposed Rules and Contributory Liability Proposed Rules.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ The Proposed Rules Relating to A Firm's System of Quality
Control and Related Amendments to PCAOB Standards (the ``Quality
Control Proposed Rules'') were filed with the Commission on May 24,
2024, and the Amendments Related to Aspects of Designing and
Performing Audit Procedures that Involve Technology-Assisted
Analysis of Information in Electronic Form (the ``Technology-
Assisted Analysis Proposed Rules''), and Amendment to PCAOB Rule
3502 Governing Contributory Liability (the ``Contributory Liability
Proposed Rules'') were filed on June 20, 2024.
\4\ See Securities Exchange Act Release No. 34-100277 (June 5,
2024) [89 FR 49588 (June 11, 2024)], and Securities Exchange Act
Release Nos. 34-100429 and 34-100430 (June 26, 2024) [89 FR 54895
and 89 FR 54922 (July 2, 2024)].
\5\ See id.
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Section 19(b)(2) of the Act \6\ provides that no later than 45 days
after the date of the publication of notice of the filing of a proposed
rule change, or within such longer period up to 90 days as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or as to which the
self-regulatory organization \7\ consents, the Commission shall either
approve or disapprove the proposed rule change, or institute
proceedings to determine whether the proposed rule change should be
disapproved. The 45th day after publication of the notice for the
proposed rules is July 26, 2024, for the Quality Control Proposed Rules
and August 16, 2024, for each of the Technology Assisted Analysis
Proposed Rules and the Contributory Liability Proposed Rules.
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\6\ 15 U.S.C. 78s(b)(2).
\7\ The term ``self-regulatory organization'' includes a
``registered securities association.'' See Section 3(a)(26) of the
Act. Section 107(b)(4) of the Sarbanes-Oxley Act of 2002 states that
the provisions of Sections 19(b)(1) through (3) of the Act shall
govern the proposed rules of the PCAOB as fully as if the PCAOB were
a registered securities association for purposes of that Section.
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On July 1, 2024, the Commission extended the date by which the
Commission shall either approve or disapprove, or institute proceedings
to determine whether to approve or disapprove, the Quality Control
Proposed Rules to August 25, 2024.\8\ To provide additional time for
consideration of the Quality Control Proposed Rules and the issues
raised therein, the Commission finds it appropriate to extend the time
period within which the Commission must take action on those proposed
rules for up to an additional 15 days. To provide additional time for
consideration of the Technology-Assisted Analysis Proposed Rules and
the Contributory Liability Proposed Rules and the issues raised
therein, the Commission finds it appropriate to extend the time period
within which the Commission must take action on those proposed rules
for up to seven days. Accordingly, pursuant to Section 19(b)(2) of the
Act,\9\ the Commission extends the date by which the Commission shall
either approve or disapprove, or institute proceedings to determine
whether to approve or disapprove, the proposed rules to August 23, 2024
for the Technology Assisted Analysis Proposed Rules and the
Contributory Liability Proposed Rules (File Nos. PCAOB-2024-03, PCAOB-
2024-04) and September 9, 2024 (File No. PCAOB-2024-02).
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\8\ See <a href="https://www.sec.gov/files/rules/pcaob/2024/34-100451.pdf">https://www.sec.gov/files/rules/pcaob/2024/34-100451.pdf</a>.
\9\ 15 U.S.C. 78s(b)(2).
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-18491 Filed 8-16-24; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on August 19, 2024.
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