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Auditors, Hold Your Horses! NOCLAR’s Standard Taking a Rain Check
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Subscribe18 NOV 2024 / PCAOB UPDATES
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The Public Company Accounting Oversight Board (PCAOB) has decided to delay the introduction of its Non-Compliance with Laws and Regulations (NOCLAR) standard meant to increase auditors' role in identifying compliance issues. This decision, which has raised questions about the impacts on the auditing profession and financial reporting transparency, is indicative of increased responsibilities for auditors, potential cost implications for businesses, and stronger regulatory measures to thwart corporate fraud.
The Public Company Accounting Oversight Board (PCAOB) recently threw a curveball at auditors, businesses, and investors by pausing its anticipated NOCLAR (Non-Compliance with Laws and Regulations) standard until next year. Despite strong opinions on all s...
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