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Despite Early Protests, Foreign Firms Flock to PCOAB

Despite Early Protests, Foreign Firms Flock to PCOAB

by Rick Turoczy on September 17, 2004

Although foreign accounting firms bristled at Sarbanes-Oxley Act provisions requiring them to seek approval from regulators in Washington in order to audit the financial statements of U.S. companies, they are now flocking by the hundreds to register with the Public Company Accounting Oversight Board.

Of the 1,319 registrations processed by the board through mid-September, more than one-third are from non-U.S. firms, PCAOB registration and inspections director Patricia Thompson said. More foreign firms are expected to register, even though the official deadline for doing so passed on July 19, she said in a report to the PCAOB’s public meeting on Wednesday.

Despite Early Protests, Foreign Firms Flock to PCOAB

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