SEC Chief Accountant Emphasizes Importance Of Auditor Independence

In remarks before the 36th Annual SEC and Financial Reporting Institute Conference, SEC Chief Accountant Wesley Bricker emphasized the importance of effective financial reporting and auditor independence. He stated:

Mr. Bricker described the role played by the Public Company Accounting Oversight Board ("PCAOB") in market oversight and investor protection, explaining how the PCAOB uses inspection and enforcement programs to promote compliance and accountability. He reported on the PCAOB's "standard-setting agenda" which included a proposed final auditor reporting standard, as an example of the kind of developments