As the battle between Levitt and the accountancy profession over auditor independence reaches its end game, attention will be focused on the gambling capital of the US where SEC chairman is due to address the AICPA?s annual conference.
AICPA has argued against the proposals, recently releasing a survey of independent investors revealing nine in 10 investors had confidence in the audits of the companies they invested in.
Levitt?s attempts to smash the link between audit and consultancy have angered the profession, and created a split between the Big Five firms.
In September PricewaterhouseCoopers and Ernst & Young put forward a compromise solution which would prevent auditors from offering larger, IT-based consultancy services to their clients.
Deoitte & Touche, KPMG and Arthur Andersen have remained resolutely opposed to the proposals.
It is believed Levitt will publish a final set of rules before the US presidential election on 7 November.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel