PCAOB Adopts Interim Inspection Program for Broker-Dealer Audits

The Public Company Accounting Oversight Board (PCAOB) adopted without material change a proposed temporary rule that establishes an interim inspection program for audits of securities brokers and dealers as permitted by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The board said that insights gained through the interim program will inform the eventual determination of the scope and elements of a permanent program, which the board expects to propose by 2013.