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ARTICLE · 20 FEBRUARY 2024

SEC Chief Accountant Issues Statement On Public Company Audit Quality

Winston Taylor
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On February 5, 2024, Securities and Exchange Commission (SEC) Chief Accountant Paul Munter issued a statement calling for increased quality of public company audits.

United StatesAccounting and Audit
Michael J. Blankenship
Michael J. Blankenship
J. Eric Johnson
J. Eric Johnson
Jacob Botros
Jacob Botros
John Niedzwiecki
John Niedzwiecki
Ben Smolij
Ben Smolij

On February 5, 2024, Securities and Exchange Commission (SEC) Chief Accountant Paul Munter issued a  statement calling for increased quality of public company audits. Munter's statement follows  findings from the Public Company Accounting Oversight Board (PCAOB) of increased deficiency rates in recent year-over-year inspections, and alludes to new and existing risks that "may put pressure on the operations and financial health of companies and render financial reporting and auditing more challenging."

In his statement, Munter addresses responsibilities of audit committees and independent auditors in protecting the investing public and provides suggestions for each.

AUDIT COMMITTEES

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