Policing The Auditors
- Topics:
- Audits
- Tags:
- Auditor,
- CFO Publishing Corp.,
- Finance,
- Financial Services,
- Management,
- Operational Accounting,
- PricewaterhouseCoopers Consulting,
- Rumble,
- Strategy
- Source:
- CFO Publishing
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Overview: The independence rules require that auditors refrain from investing in companies that they audit, to ensure objective, truthful reporting, and opinion. All auditors and their relatives, spouses, dependents, nondependent, and, in some cases, associates must disclose all holdings. There are rumbles in the industry that more than one Big Five accounting firm will be found in violation of independence regulations. An example of a limited investigation of one of PricewaterhouseCoopers LLP's (PwC) branches two years ago has turned into wholesale scrutiny of the accounting profession's biggest players. Publicly, officials at the Big Five are putting on a good face. Still, there are rumbles in the industry that more than one firm will be found in violation of independence regulations.
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Format: HTML | Date: Mar 2000 | Pages: 1
