SEC Acting Chief Accountant Beswick and SEC Commissioner Aquilar's Speeches on PCAOB Developments and IFRS

SEC Acting Chief Accountant Paul A. Beswick delivered remarks regarding current SEC and PCAOB developments at the 40th annual American Institute of CPAs (AICPA) National Conference. Key topics included:

• International Financial Reporting Standards;
• Scope of the Financial Statements;
• Convergence Projects;
• Auditor Independence and Consultancy Practices;
• Internal Control over Financial Reporting;
• Auditor's Reporting Model.

One of the principal topics of the speech by SEC Commissioner Luis Aquilar was the difficulty that the U.S. regulators have experienced in obtaining audit papers from non-U.S. regulators. In this regard, he particularly singled out audits with respect to Chinese companies (a topic that is the subject of a separate item in today's news).

View speech in full here (links externally to SEC website).Related speech: SEC Commissioner Luis Aguilar's Remarks on Capital Formation from the Investor's Perspective.