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MEMORANDUM THE CONGRESSMAN NEW YORK INFORMATION 22 July
SUBJECT: QUALIFICATION OF PCAOB MEMBERS
EDUCATIONAL AND PROFESSIONAL QUALIFICATION
The PCAOB members possess rich educational and professional qualification that guarantees their operation as the board members. The members have to attain the CPA as a basic qualification. The members have to be proficient in CPA and obtain a minimum of five years experience before their experience to the PCAOB. The qualification ensures that the members have basic or advanced accounting skills that are fundamental in their frequent audit work. The members have to take part in at least qualifying continuing professional education (CPE) of a minimum of twenty hours per year. The members have to obtain one hundred and twenty hours of similar skills attainment in three years.
The members have a vast qualification in accounting and auditing. The members qualification on the relevant subjects are modified to involve business environments and likewise to the economic situations. The environments have to cater for the professionals’ area of assignment. The members with advanced responsibilities such as the manager have forty percent of their needed CPE in areas relevant to accounting and auditing. Such members must also have eight fours each year and forty eight hours of CPE in every three years. In general, the members have forensic skills in both business and economic fields at assists the board in value regulation, ethics and autonomy to make the auditing processes easy and professional.
Anand, S. Sarbanes-Oxley Body of Knowledge: An Introduction. New York: Van Haren Publishing, 2008