An auditor would follow the PCAOB's guidance when auditing a company whose stock is traded on the London Stock Exchange if the company conducts operations in multiple U.S.cities.

Question

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The PCAOB (Public Company Accounting Oversight Board) oversees the audits of public companies to protect investors and the public interest in the United States. If a company's stock is traded on the London Stock Exchange and not on any U.S. exchanges, the company would primarily follow the auditing standards relevant to the U.K. or those set by the International Auditing and Assurance Standards Board (IAASB), unless it also is listed on a U.S. exchange or is required to follow U.S. regulations for other reasons.

An Auditor Would Follow the PCAOB's Guidance When Auditing a Company