Public Company Accounting Oversight Board

Sagar Teotia to Conclude Tenure as SEC Chief Accountant

Wednesday, January 13, 2021 - 3:08pm

As Chief Accountant, Mr. Teotia is the principal advisor to the Commission on accounting and auditing matters.

Key Points: 
  • As Chief Accountant, Mr. Teotia is the principal advisor to the Commission on accounting and auditing matters.
  • In addition, as Chief Accountant, Mr. Teotia is responsible for assisting the Commission with discharging its oversight of the Financial Accounting Standards Board (FASB) and the Public Company Accounting Oversight Board (PCAOB).
  • Mr. Teotia was named as the SECs Chief Accountant in 2019 after previously serving as Deputy Chief Accountant.He also previously served as a professional accounting fellow in OCA.
  • It has been an absolute honor to work with so many talented professionals at the SEC, said Mr. Teotia.

U.S. Supreme Court Will Not Hear Case Challenging Removal Protections for SEC’s In-House Judges

Tuesday, January 12, 2021 - 2:03am

Rather than try Gibson in federal court, the SEC subjected him to a second hearing before another constitutionally-defective ALJ.

Key Points: 
  • Rather than try Gibson in federal court, the SEC subjected him to a second hearing before another constitutionally-defective ALJ.
  • SECs scheme fails to follow two controlling Supreme Court decisions: Free Enterprise Fund v. PCAOB and Thunder Basin v. Reich .
  • In the Supreme Court unequivocally held that officers of the United Stateslike SEC ALJsmay enjoy only one layer of for-cause removal protection.
  • NCLA has another case in the works that may reach the Supreme Court on this same issue.

UMAX Group Corp. - Planned OTCQB Listing

Monday, December 28, 2020 - 2:30pm

LAS VEGAS, Dec. 28, 2020 /PRNewswire/ --UMAX Group Corp. (Pink Sheets (Alternative Reporting Pink: UMAX) UMAX would like to announce the planned engagement of a PCAOB Auditor to prepare audited financial statements for the Company and a subsequent application for listing on the OTCQB.

Key Points: 
  • LAS VEGAS, Dec. 28, 2020 /PRNewswire/ --UMAX Group Corp. (Pink Sheets (Alternative Reporting Pink: UMAX) UMAX would like to announce the planned engagement of a PCAOB Auditor to prepare audited financial statements for the Company and a subsequent application for listing on the OTCQB.
  • UMAX is completing this significant corporate action with the intent to file for listing on the OTCQB with OTC Markets, Inc. We feel that this financial transparency will fit well with our planned growth through acquisitions in calendar year 2021. "
  • Mr. Fletcher (President and CEO of UMAX) further stated"Upon the completion of the Audited Financial Statements, UMAX will be able to immediately make the application for listing on the OTCQB as we will meet all of the eligibility requirements set out by OTC Markets, Inc.
  • UMAX Group Corp. is a Nevada corporation, is a public quoted Pink Sheet issuer under the ticker symbol "UMAX".

SEC Approves 2021 PCAOB Budget and Accounting Support Fee

Thursday, December 17, 2020 - 4:08pm

The accounting support fee approximates the PCAOBs annual budget, with differences generally attributable to certain timing differences in fee collections and PCAOB expenditures, adjustments to the working capital reserve, and the potential unspent funds from the prior year budget being carried forward into the accounting support fee calculation.

Key Points: 
  • The accounting support fee approximates the PCAOBs annual budget, with differences generally attributable to certain timing differences in fee collections and PCAOB expenditures, adjustments to the working capital reserve, and the potential unspent funds from the prior year budget being carried forward into the accounting support fee calculation.
  • The Securities and Exchange Commission today voted to approve the 2021 budget of the Public Company Accounting Oversight Board (PCAOB) and the related annual accounting support fee.
  • On November 19, 2020, the PCAOB adopted its 2021 budget, accounting support fee, and its strategic plan for 2020-2024, including:
    A total budget of $287.3 million.
  • The 2021 budget will be funded primarily by the 2021 accounting support fee of $263.9 million, which is approximately 2.3 percent lower than the 2020 Commission-approved accounting support fee of $270.2 million.

Corida Corporation Retains PCAOB Auditor

Friday, December 11, 2020 - 12:02pm

LOS ANGELES, Dec. 11, 2020 (GLOBE NEWSWIRE) -- Corida Corporation today announced that (OTCM: CORG) it has retainedPCAOB registered accounting firm, BF Borgers CPA, PC to conduct an audit of its Consolidated Financial Statements for the fiscal years ending December 31, 2019 and 2020.

Key Points: 
  • LOS ANGELES, Dec. 11, 2020 (GLOBE NEWSWIRE) -- Corida Corporation today announced that (OTCM: CORG) it has retainedPCAOB registered accounting firm, BF Borgers CPA, PC to conduct an audit of its Consolidated Financial Statements for the fiscal years ending December 31, 2019 and 2020.
  • Upon completion of the audit, the Company intends to become a fully reporting company with the Securities and Exchange Commission.
  • Additionally, the Company plans to seek a listing on an exchange.
  • The company anticipates that the audits and a filing will be completed during the first quarter of 2021.

Global Warming Solutions Inc. Hires PCAOB Qualified CPA Firm to Audit Financial Statements

Wednesday, September 16, 2020 - 3:14pm

Jacksonville, Florida, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Global Warming Solutions, Inc. (OTCPINK: GWSO) engaged a PCAOB qualified CPA firm to audit the past two years of the Company's financials in preparation of becoming a fully reporting company with the Securities and Exchange Commission.

Key Points: 
  • Jacksonville, Florida, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Global Warming Solutions, Inc. (OTCPINK: GWSO) engaged a PCAOB qualified CPA firm to audit the past two years of the Company's financials in preparation of becoming a fully reporting company with the Securities and Exchange Commission.
  • "We believe hiring a PCAOB auditor for our Company is a significant move that demonstrates our commitment to shareholders and customers," said Vladimir Vasilenko, Global Warming Solution Inc. President.
  • Global Warming Solutions, Inc. (GWSO) develops and commercializes technologies that help mitigate Global Warming and its effect on our planet.
  • Global Warming Solutions seeks to leverage its experienceand management to help make a difference in the fight for climate control.

Epazz Engages PCAOB Auditor in Order to Uplist to the OTCQB; Releases Contact Tracing Update to DeskFlex for Covid-19 Back to School

Tuesday, August 11, 2020 - 8:01am

Epazz Engages PCAOB Auditor in Order to Uplist to the OTCQB; Releases Contact Tracing Update to DeskFlex for Covid-19 Back to School

Key Points: 
  • Epazz Engages PCAOB Auditor in Order to Uplist to the OTCQB; Releases Contact Tracing Update to DeskFlex for Covid-19 Back to School
    Epazz Engages PCAOB Auditor in Order to Uplist to the OTCQB; Releases Contact Tracing Update to DeskFlex for Covid-19 Back to School
    CHICAGO, IL, via NEWMEDIAWIRE -- Epazz Inc. DeskFlex (OTC: EPAZ), a cloud-computing software provider company, announced today that it has engaged a PCAOB Auditor to audit 2018 and 2019 financials.
  • DeskFlex desk and room scheduling system releases its newest software feature, the Contact Tracing tool to prevent and contain a possible outbreak in the workplace, schools, and campuses.
  • DeskFlex's Contact Tracing software screens students, faculty, employees, and registered users for symptoms of COVID infection upon logging into the system.
  • Using the Contact Tracing tool, administrators can monitor contamination in their campuses and can act decisively to swiftly locate, notify, and isolate possibly infected individuals.

SOX & Internal Controls Update (BOSTON, United States - October 14-15, 2020) - ResearchAndMarkets.com

Friday, July 31, 2020 - 10:52am

Do I have too many key controls?

Key Points: 
  • Do I have too many key controls?
  • What is the right/best way to perform an account reconciliation?
  • How can I streamline my controls with technology and automation?
  • What is coming down the pipeline from the PCAOB, external auditors, that I need to know about?

Transportation and Logistics Systems, Inc. Announces Filing of Application to Uplist to OTCQB Venture Market

Tuesday, July 7, 2020 - 1:00pm

The Company already meets two gating OTCQB Venture Market compliance requirements by filing audited annual financials prepared in accordance with U.S. GAAP by a PCAOB auditor and maintaining a verified company profile at OTCMarkets.com.

Key Points: 
  • The Company already meets two gating OTCQB Venture Market compliance requirements by filing audited annual financials prepared in accordance with U.S. GAAP by a PCAOB auditor and maintaining a verified company profile at OTCMarkets.com.
  • About Transportation and Logistics Systems, Inc.
    TLSS operates as a leading logistics and transportation company specializing in eCommerce fulfillment, last mile, two-person home delivery and line haul services for predominantly online retailers through its wholly-owned operating subsidiaries, PrimeEFS, LLC and ShypDirect, LLC.
  • For more information about the Company and its subsidiaries, visit the Companys website, www.tlss-inc.com .
  • Although we believe that the expectations reflected in these forward-looking statements are reasonable, these expectations may not be achieved.

American Energy Retains PCAOB Auditor, Sights Are Set On Future Up-Listing

Tuesday, July 7, 2020 - 1:00pm

ALLENTOWN, PA, July 07, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE --American Energy Partners, Inc.(American Energy) (PINK: AEPT), a diversified energy company, today announces the engagement of PCAOB auditor, Assurance Dimensions (Assurance).

Key Points: 
  • ALLENTOWN, PA, July 07, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE --American Energy Partners, Inc.(American Energy) (PINK: AEPT), a diversified energy company, today announces the engagement of PCAOB auditor, Assurance Dimensions (Assurance).
  • American Energy CEO Brad Domitrovitsch offered this for comment, Completing this audit is the first step towards being a fully reporting company.
  • We look forward to the degree of transparency and trust our stakeholders will be afforded upon completion.
  • AEPT and its group of companies focus on providing solutions in markets where energy production and water remediation meet technology.