Summary:
Staff questions and answers set forth the staff's opinions on issues related to the implementation of the standards of the Public Company Accounting Oversight Board ("PCAOB" or "Board"). The staff publishes questions and answers to help auditors implement, and the Board's staff administer, the Board's standards. The statements contained in the staff questions and answers are not rules of the Board, nor have they been approved by the Board.
The following staff questions and answers are applicable to audits of financial statements in circumstances in which a company has granted share options to employees that must be accounted for as compensation cost in conformity with Statement of Financial Accounting Standards No. 123 (revised 2004), Share-Based Payment, issued by the Financial Accounting Standards Board. These staff questions and answers were prepared by the Office of the Chief Auditor. Additional questions should be directed to Greg Fletcher, Assistant Chief Auditor (202/207-9203; fletcherg@pcaobus.org) or Jennifer Rand, Deputy Chief Auditor (202/207-9206; randj@pcaobus.org).
See full Press Release, in PDF format.
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