AICPA Issues Amendments to Independence Rules
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.
You may also invited to participate in a live, interactive Web conference on December 4 at 1:00 p.m. Eastern time.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.