On December 12, 2023, PCAOB Chair Erica Y. Williams testified before the House of Representatives’ Financial Services Subcommittee on Capital Markets regarding the PCAOB’s mission and agenda. Chair Williams began her remarks by highlighting the PCAOB’s recent enforcement actions against China-based audit firms and individuals. She spoke on the PCAOB’s goals of modernizing its standards and rules, enhancing transparency surrounding inspections, and strengthening its enforcement program.

Chair Williams additionally provided written testimony, which included examples of new and amended standards proposed by the PCAOB in 2023, a description of the changes made to inspection reports, and brief summaries of key enforcement actions taken in 2023.

A livestream of the subcommittee meeting can be found here. Chair Williams’s written testimony can be found here and her spoken remarks can be found here.