The acting chairman of the Public Company Accounting Oversight Board, Daniel L. Goelzer, plans to ask Congress to consider a change to the Sarbanes-Oxley Act to allow the PCAOB’s disciplinary hearings of accountants and accounting firms, along with the related proceedings, to be made public.
Goelzer has directed the PCAOB staff to develop a proposal that will be sent to Congress requesting the change. Currently, under Sarbanes-Oxley, disciplinary hearings and proceedings are kept private, unless the PCAOB find good cause to make them public, and all the parties concerned agree to open them to the public. That rarely if ever happens.
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