Legal experts questioned whether a proposal to require thatcompanies switch to a new outside audit firm regularly would curbfraud, according to a Reuters story. At a meeting yesterday todiscuss the Public Company Accounting Oversight Board's proposal onmandatory auditor rotation, Conrad Hewitt, former SEC chiefaccountant, suggested bolstering the audit committees of corporateboards instead. Former SEC chairman Harold Williams said he wasn'toptimistic mandatory rotation would work, but argued that it mightencourage mid-level audit firms to compete for bigger clients.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.