PracticeAuditFormer CIA chief could head up audit board

Former CIA chief could head up audit board

The Securities and Exchange Commission could be set to appoint a former head of the CIA and FBI to run a board designed to oversee the audit profession and restore confidence in financial statements.

Link: Budget worries hit US accounting watchdog

William Webster was yesterday in discussions with the SEC over the position of head of the new US accountancy oversight board. A decision over who will be appointed to the five person board has to be made by Monday.

Webster is being seen as an alternative to John Biggs, the outgoing chief of US pension fund TIAA-Cref, who was close to being appointed to the position before the information was leaked to the public, infuriating the Republican-leaning members of the board over the lack of consultation.

However Democrats have questioned Webster’s lack of accounting experience and also the commitment he may have to the role at the age of 78.

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

6d Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

2w Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

2w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

2m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter