The Pre-Read The Scrutiny Spiral: PCAOB in the Crosshairs
The PCAOB is under siege. Critics say it's overreached its mission while supporters argue we've forgotten why it was created: to prevent another Enron or WorldCom.
On this episode of The Pre-Read, Workiva Industry Principals Chelsea Hall and Grant Ostler join for a roundtable to discuss what's broken and what's worth saving. We examine the push to dismantle the board and roll its responsibilities into the SEC. We also discuss what executives need to keep in mind, the importance of maintaining investor confidence in financial reporting, and how leveraging technology can streamline compliance and reduce the burden of documentation.
0:00 Introduction
01:40 What's going on with the PCAOB?
03:20 Is this political theater or a real threat?
05:00 Why the PCAOB matters to the C-suite
06:30 The value of audits as a foundation for capital markets
08:00 Where the PCAOB may have missed the mark
10:15 The cost of compliance
13:30 Investor concerns on regulation and efficiency
16:15 How companies can prepare for change
17:30 Finding the balance between regulation and efficiency
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