Execs worry that PCAOB's draft audit standards will mean spike in costs
By Staff Writer|December 01, 2002 at 07:00 PM
Thank you for sharing!
Your article was successfully shared with the contacts you provided.
The Public Company Accounting Oversight Board (PCAOB) got an earful of harsh criticism recently about its proposed standards for the work auditors should do before signing off on management assessments of companies’ internal controls. Most of the 186 comment letters received by the chief auditing regulator were from finance executives, and their common theme was the likely cost the standards would impose on companies. “It’s the addition of a costly independent audit attestation that people are objecting to,” says Curtis Verschoor, professor of accounting at DePaul University. “That’s where the battle lines are drawn.”
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing. Once you are an ALM digital member, you’ll receive:
Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices,
case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
Exclusive discounts on ALM and Treasury & Risk events.
Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.