The auditor independence quality controls sought and established last year by the Securities and Exchange Commission have resulted in an amendment to the auditor independence rules by the SEC Practice Section (SECPS) of the American Institute of Certified Public Accountants.
This amendment is effective January 1, 2002. The SECPS has updated its "Independence" training course to take into account the SEC's new rules. The course is available online or may be acquired by calling 888-777-7077.
A table summarizing the changes covered in this amendment may be viewed at the AICPA's Web site.