SEC Accepting Applications for 2nd Hearing

The SEC is gearing up for Round Two of the auditor independence hearings, and applications are being accepted for those who wish to participate in the hearings. Any member of the public is eligible to apply to make a presentation at the hearing, and those who prefer not to appear in person may submit written comments.

The first hearing occurred on July 26 and the SEC has posted the entire transcript of that hearing on their web site.

The second of three scheduled hearings is set for Wednesday, September 13, at 9 a.m., at Pace University in New York City. Written requests to make a presentation at the second hearing are due by August 25 and should be submitted to:
Jonathan G. Katz, Secretary
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
or submitted electronically at Click here for instructions on how to submit requests and copies of statements.

The proposed auditor independence guidelines would, among other things, allow more flexibility to auditors by reducing the number of audit firm employees and their family members whose investments in audit clients are attributed to the auditor; limit the scope of services that can be provided to audit clients; provide a limited exception for accounting firms that have in place certain quality controls and satisfy other conditions; and require companies to disclose in their annual proxy statements certain information about non-audit services provided by their auditors.

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 21
Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience's communication style.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.