PracticeAuditUS regulator to meet behind closed doors

US regulator to meet behind closed doors

The newly formed US accounting oversight board is to hold its first meeting tomorrow behind closed doors to discuss administrative issues.

Link: SEC in crisis – follow the story

The body, which has been dogged by scandal over the appointment of former FBI director William Webster as its chairman, will discuss such things as office space, and staff, according to AP.

The private nature of the meeting has already generated fresh criticism, this time from Barbara Roper, director of investor protection at the Consumer Federation of America, who said it would further the impression that the public interest is not being served.

Last week US accountancy firm BDO Seidman released documents that it said showed Webster knew about ‘material weaknesses in internal control’ at US Technologies, where he served as head of its audit committee.

Harvey Pitt resigned last week, amid a storm over the appointment of Webster after he did not tell other members of the SEC executive of Webster’s connection to US Technologies.

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