Deloitte ties could affect US regulatory oversight
Links to Deloitte mean three of the PCAOB's five board members cannot discuss the firm in an official capacity
DELOITTE TIES mean US regulator the PCAOB is hobbled when it comes to making decisions about the Big Four firm, according to one commentator.
Three of the PCAOB’s five board members – Lewis Ferguson, Jay Hanson and chairman James Doty – have been unable to participate in decisions relating to Deloitte because of professional or family connections, writes Jonathan Weil of Bloomberg.
Doty (pictured) and Ferguson are former partners of law firms representing Deloitte, while Hanson’s daughter works in the firm’s Phoenix office.
Spokeswoman Colleen Brennan said recusals are “confidential” and it is understood that Doty and Ferguson will be able to participate in Deloitte-related decisions after completing a full year at the board in January 2012.