It may have begun with Sarbanes-Oxley, but pressure on audit committees to get tougher on auditors is only continuing to grow.
Audit committees are expected to take a closer look at the audit firms they hire to perform the external audit, at the people doing the work, and at the quality of the work itself. They’re expected to mediate more when auditors and management disagree, and there’s plenty of ground for disagreements these days as the financial reporting supply chain navigates some of the biggest changes in accounting and auditing standards in decades.
