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PCAOB and the new independence rule

Filed in archive Accounting by leon on April 20, 2008

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The Public Company Accounting Oversight Board is looking at a new independence rule designed to force auditors to come clean on their links with corporations.

The PCAOB has announced it will hold an open meeting this Tuesday to consider adopting Rule 3526 which will require the audit firm to communicate to an issuer's audit committee about any relationships between the firm or any of its affiliates and the issuer.

The PCAOB explained the proposed rule in detail last year.

Meanwhile, the PCAOB continues to come under pressure with the Point of Law blog alerting us to court proceedings over the appeal against the dismissal of a challenge to the PCAOB's constitutionality. As the Point of Law blog points, any finding against the PCAOB's constitutionality would strike at the heart of Sarbanes-Oxley.


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Permalink: PCAOB and the new independence rule
Tags: PCAOB  independence  pcaob  2007  rule  pcaob+independence  independence+rule  conrad+black 

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Related Entries:

Stop tweaking SOX, says PCAOB - 20 February 2007

PCAOB slates audits of small firms - 26 October 2007

PCAOB action - 13 December 2007

SEC-PCAOB arm wrestle - 27 February 2008

Auditors and independence - 23 April 2008

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