Read what all of the witnesses have had to say about the SEC's proposed auditor independence guidelines. The SEC has published all of the transcripts of all testimonies from public hearings held on July 26, September 13, September 20, and September 21.
The SEC has suggested guidelines to limit the scope of services that accounting firms conducting audits of publicly held companies can perform. Activition of these rules would require most large and mid-size accounting firms to give up much of their consultancy practices.
Detractors to these proposed guidelines have suggested that restricting the types of services that accounting firms can perform would cause quality job candidates to look elsewhere for more stimulating work and thus would ultimately dilute the quality of audit services performed.
Several members of the profession spoke out informally in an open forum conducted at AccountingWEB earlier this week.
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