PCAOB prepares new rule on outside auditors, reviews EQR standard
The PCAOB has scheduled an open meeting to consider a proposed new requirment around firms relying on others outside the principal firm to assist with audit work. The new proposal would address the lead auditor’s responsibilities with respect to those other auditors from outside the principal audit firm who participate ...
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Auditors are supposed to keep businesses honest, but how much regulation is the optimum for the auditors – and how onerous and punitive should the enforcement regime be? A new consultation by the U.K. regulator, the Financial Reporting Council, opened on Oct. 1 and has put the vexed question of ...