In Focus

CII Supports PCAOB’s Efforts to Stop Accounting Firms from Improperly Touting PCAOB Registration

CII sent the Public Company Accounting Oversight Board (PCAOB) a letter March 28 generally supporting its proposal aimed at ensuring that public accounting firms do not mislead investors by improperly using PCAOB registration as a marketing tool. CII backed the PCAOB’s proposals to: 1) Prohibit public accounting firms from using PCAOB registration as an implied endorsement of activities that are outside of the PCAOB’s authority; and 2) require accounting firms that do not file annual reports or pay their annual PCAOB registration fees to withdraw from PCAOB registration.

CII Invites Index Providers to Discuss Its Policy on Consultation Processes

CII is requesting meetings with the three major index providers to discuss the policy CII’s U.S. Asset Owner Members approved March 4 that  urges index providers to engage in a robust public consultation process when they are contemplating significant changes to benchmark indexes. In its letters to FTSE Russell, MSCI and S&P Global, CII explains the recommendations in the policy and invites the index providers to engage in off-the-record discussions about the gaps between their benchmark consultation practices and the CII policy’s recommended practices.

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