The main U.S. accountant regulator vowed to press forward with acontroversial plan to name the auditors of public companies thathas been the focus of a five-year battle with industry.
The Public Company Accounting Oversight Board (PCAOB) plans inthe coming months to reissue the proposal, which has been opposedby accounting firms that say it will make auditors a bigger targetof lawsuits. PCAOB Chairman James Doty told members of theSecurities and Exchange Commission (SEC), who approved his agency's$250 million budget Wednesday, that the new measure should be moreacceptable to the SEC and the audit industry.
“We have reached an approach that we think is workable andavoids some of the problems that we discovered,” he said.
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