PracticeAuditPCAOB urged to take lead on auditor independence

PCAOB urged to take lead on auditor independence

As the deadline for non-US audit firms to register with the US Public Company Accounting Oversight Board passes today, one of the US's most senior accountants has called on the watchdog to take the lead on auditor independence issues.

Link: France set to impose auditor restrictions

Donald Nicolaisen, Securities & Exchange Commission chief accountant said during a PCAOB roundtable last week, that although the SEC will continue to provide companies and audit committees with guidance on auditor independence, he expects the PCAOB to expand its role and become the primary source of guidance.

The comments came during a PCAOB roundtable last week to reconsider whether firms should be able to offer tax services to their audit clients. Nicolaisen added that he expected that ‘a great number of the independent interpretative issues that currently are handled by my office appropriately will migrate to the PCAOB’.

Related Articles

EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

2d Emma Smith, Managing Editor
Top 50+50: Firms post significant growth in new tax and audit rankings

Audit Top 50+50: Firms post significant growth in new tax and audit rankings

5d Emma Smith, Managing Editor
FRC closes investigation into PwC over Barclays compliance

Accounting Firms FRC closes investigation into PwC over Barclays compliance

2w Alia Shoaib, Reporter
PwC to audit BBC pay policies following gender pay gap outrage

Accounting Firms PwC to audit BBC pay policies following gender pay gap outrage

1m Alia Shoaib, Reporter
PwC to take over from Deloitte as Diploma auditor

Accounting Firms PwC to take over from Deloitte as Diploma auditor

1m Alia Shoaib, Reporter
KPMG rocked by South African corruption scandal

Audit KPMG rocked by South African corruption scandal

3w Alia Shoaib, Reporter
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4w Emma Smith, Managing Editor
FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

Accounting Firms FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

4w Emma Smith, Managing Editor