PCAOB to rely on overseas counterparts?

Well, at least the PCAOB is consistent. It has made sure the industry aware that it approves of auditors using the work of others in its 404 evaluations of clients. Now, the PCAOB is apparently hankering to use the work of others--namely oversight bodies in other countries--when it comes to audits of accounting companies in other countries. The issue is whether the spirit of Sarbanes Oxley can be upheld. One view is that the zeal and resources of PCAOB makes it unique among its overseas counterparts, which have sprung up in recent years. We'll see what the comments look like.   

For more:
- here's a cfo.com article

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