Harvey Pitt, chairman of the Securities and Exchange Commission, the main US financial watchdog, is expected to sketch ‘broad concepts’ for a professional oversight panel to regulate accountants.
The US already has a Public Oversight Board designed to ensure governance in the profession is upheld.
Pitt however is expected to propose a framework that will include non-accountants as well as accountants. This would echoe the current profile of the new UK accounting watchdog the Accountancy Foundation.
Pitt will hold a news conference at 6:30GMT (1:30EDT) in Washington.
Simon Wright of CareersinAudit.com discusses how an effective cyber defence force is critical to businesses worldwide and how internal auditors can make the transition to a new career in cyber security
The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
Craig Maxwell joins the audit and assurance team in Scotland
Stephen Grayson to join the audit department in Manchester