PracticeAuditCFOs want explanations for auditor resignations and dismissals

CFOs want explanations for auditor resignations and dismissals

US Grant Thornton survey shows desire for SEC to step in and require more transparency when auditors are changed

Seven out of ten US CFOs want greater explanation of the reasons behind
auditor dismissals and resignations, according to a Grant Thornton survey.

A total of 688 chief financial officers and senior comptrollers were asked if
the SEC should enhance the 8-K rules to require explanations for all company
dismissals of auditors, for all auditor resignations and for all instances in
which the auditor chooses not to stand for reappointment. 70% said yes.

The survey also found that two thirds thought the average CEO is overpaid,
but only a quarter believed their own boss’ remuneration package was too high.
Over half (55%) harbour the ambition to step into a CEO role one day and 83%
believe that CEO and chairman roles should remain independent of each other.

Further reading

See the
Grant
Thornton survey
results

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