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New PCAOB takes fresh look at auditor independence

Tammy Whitehouse | April 11, 2018

The all-new Public Company Accounting Oversight Board is taking a fresh look at whether auditors need new guidance on their required communication with audit committees regarding independence.

The board’s latest standard-setting agenda contains a newly initiated research project on whether the board should consider issuing guidance or revising Rule 3526, which governs when and in what manner auditors should discuss with audit committees their adherence to independence requirements under Rule 3520.

The agenda notes regulatory inspections have raised questions about how firms are executing on the communication requirements “in circumstances in...

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