The staff's responses are intended to assist registrants and their audit committees, audit firms, and other market participants in the understanding of and compliance with the new regulations. The document includes the staff's responses to questions in the general areas of:
- partner rotation and transition questions
- other audit partner and partner rotation matters
- nonaudit services
- audit committee pre-approval
- audit committee communications
- fee disclosures
- "cooling off" period
- broker-dealers and investment advisers