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18 Nov 2005
Accountants' battle to win back public trust after the spate of recent financial scandals may never be won, Public Company Accounting Oversight Board chairman William McDonough said today.
Speaking at a Financial Executives International conference in New York, he said the mission to restore and maintain public trust and confidence was ongoing.
'It is not a project which can ever be considered "finished." You must maintain your focus on that goal, and the PCAOB must continue to play its role in keeping that goal front and centre,' he said.
McDonough admitted that after two PCAOB inspection cycles, identifying and rooting out all the causes of recent auditing failures and the risk of future ones was not realistic.
McDonough also pledged to work with international regulators to ensure high standards across the world.
As of this week, the PCAOB has registered more than 1,586 firms, including 640 non-US firms.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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