[Federal Register Volume 89, Number 160 (Monday, August 19, 2024)]
[Notices]
[Page 67117]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-18491]



[[Page 67117]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-100724; File Nos. PCAOB-2024-02, PCAOB-2024-03, PCAOB-
2024-04]


Public Company Accounting Oversight Board; Extension of Approval 
Periods for Proposed Rules on a Firm's System of Quality Control and 
Related Amendments to PCAOB Standards, Proposed Rules on Amendments 
Related to Aspects of Designing and Performing Audit Procedures That 
Involve Technology-Assisted Analysis of Information in Electronic Form, 
and Proposed Rules on Amendment to PCAOB Rule 3502 Governing 
Contributory Liability

August 13, 2024.
    On May 24 and June 20, 2024, the Public Company Accounting 
Oversight Board (``PCAOB'') filed with the Securities and Exchange 
Commission (``Commission''), pursuant to Section 19(b)(1) of the 
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 
thereunder,\2\ the proposed rules referenced above (collectively, the 
``proposed rules'').\3\ The Quality Control Proposed Rules were 
published for comment in the Federal Register on June 11, 2024. The 
Technology-Assisted Analysis Proposed Rules and Contributory Liability 
Proposed Rules were each published for comment in the Federal Register 
on July 2, 2024.\4\ The Commission provided a 21-day public comment 
period for the proposed rules,\5\ which ended on July 2 for the Quality 
Control Proposed Rules and July 23, 2024 for the Technology Assisted 
Analysis Proposed Rules and Contributory Liability Proposed Rules.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ The Proposed Rules Relating to A Firm's System of Quality 
Control and Related Amendments to PCAOB Standards (the ``Quality 
Control Proposed Rules'') were filed with the Commission on May 24, 
2024, and the Amendments Related to Aspects of Designing and 
Performing Audit Procedures that Involve Technology-Assisted 
Analysis of Information in Electronic Form (the ``Technology-
Assisted Analysis Proposed Rules''), and Amendment to PCAOB Rule 
3502 Governing Contributory Liability (the ``Contributory Liability 
Proposed Rules'') were filed on June 20, 2024.
    \4\ See Securities Exchange Act Release No. 34-100277 (June 5, 
2024) [89 FR 49588 (June 11, 2024)], and Securities Exchange Act 
Release Nos. 34-100429 and 34-100430 (June 26, 2024) [89 FR 54895 
and 89 FR 54922 (July 2, 2024)].
    \5\ See id.
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    Section 19(b)(2) of the Act \6\ provides that no later than 45 days 
after the date of the publication of notice of the filing of a proposed 
rule change, or within such longer period up to 90 days as the 
Commission may designate if it finds such longer period to be 
appropriate and publishes its reasons for so finding or as to which the 
self-regulatory organization \7\ consents, the Commission shall either 
approve or disapprove the proposed rule change, or institute 
proceedings to determine whether the proposed rule change should be 
disapproved. The 45th day after publication of the notice for the 
proposed rules is July 26, 2024, for the Quality Control Proposed Rules 
and August 16, 2024, for each of the Technology Assisted Analysis 
Proposed Rules and the Contributory Liability Proposed Rules.
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    \6\ 15 U.S.C. 78s(b)(2).
    \7\ The term ``self-regulatory organization'' includes a 
``registered securities association.'' See Section 3(a)(26) of the 
Act. Section 107(b)(4) of the Sarbanes-Oxley Act of 2002 states that 
the provisions of Sections 19(b)(1) through (3) of the Act shall 
govern the proposed rules of the PCAOB as fully as if the PCAOB were 
a registered securities association for purposes of that Section.
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    On July 1, 2024, the Commission extended the date by which the 
Commission shall either approve or disapprove, or institute proceedings 
to determine whether to approve or disapprove, the Quality Control 
Proposed Rules to August 25, 2024.\8\ To provide additional time for 
consideration of the Quality Control Proposed Rules and the issues 
raised therein, the Commission finds it appropriate to extend the time 
period within which the Commission must take action on those proposed 
rules for up to an additional 15 days. To provide additional time for 
consideration of the Technology-Assisted Analysis Proposed Rules and 
the Contributory Liability Proposed Rules and the issues raised 
therein, the Commission finds it appropriate to extend the time period 
within which the Commission must take action on those proposed rules 
for up to seven days. Accordingly, pursuant to Section 19(b)(2) of the 
Act,\9\ the Commission extends the date by which the Commission shall 
either approve or disapprove, or institute proceedings to determine 
whether to approve or disapprove, the proposed rules to August 23, 2024 
for the Technology Assisted Analysis Proposed Rules and the 
Contributory Liability Proposed Rules (File Nos. PCAOB-2024-03, PCAOB-
2024-04) and September 9, 2024 (File No. PCAOB-2024-02).
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    \8\ See https://www.sec.gov/files/rules/pcaob/2024/34-100451.pdf.
    \9\ 15 U.S.C. 78s(b)(2).

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-18491 Filed 8-16-24; 8:45 am]
BILLING CODE 8011-01-P