The Public Company Accounting Oversight Board (PCAOB) in the US has created an Audit Practitioner Fellowship Programme within its chief auditor’s office.

The initiative will bring in auditors with recent hands-on experience for fixed-term roles.

These candidates are expected to share their practical knowledge with internal teams and work alongside PCAOB staff.

Participants will join the organisation for two years. During that period, they will work with staff in the Office of the Chief Auditor on PCAOB’s new and existing auditing standards and offer input on developing trends and issues in the market.

The organisation stated that the programme is intended to support its core goal of safeguarding investors.

PCAOB chairman Demetrios Logothetis said: “This fellowship programme will enable the PCAOB to tap into the deep expertise of professionals with in-the-field perspectives on the latest technologies that are reshaping the financial reporting ecosystem.

“Their insights will strengthen our ability to anticipate what lies ahead and enhance our understanding of the most pressing issues affecting auditing.”

The PCAOB is a non-profit body set up by the US Congress to oversee audits of public companies, with the aim of promoting informative, reliable and independent audit reporting in the public interest.

Its authority also extends to oversight of audits of brokers and dealers registered with the US Securities and Exchange Commission (SEC), including review of compliance reports filed under federal securities regulations.

Earlier this year, the US SEC named a new leadership line-up for the PCAOB.

Demetrios Logothetis was selected to chair the PCAOB. His term is scheduled to run until 24 October 2030.

Alongside the new chair, Mark Calabria, Kyle Hauptman and Steven Laughton were appointed as additional members.