The U.S. Treasury Department got an earful last week on how it should address growing concerns that the auditing business may not be sustainable under current market and regulatory forces.
The department assembled its Advisory Committee on the Auditing Profession for an all-day hearing with leaders from audit firms, academic circles, law firms, other professional service providers, and leading finance and accounting associations. Absent, however, was any contingent from the regulatory community itself, except for a sole representative of state boards of accountancy.
