The US audit board under fresh leadership signaled Tuesday it would consider scaling back a rewrite of its quality control rules—part of a broader reset to its approach as an industry watchdog.
The Public Company Accounting Oversight Board plans to reopen the comment file on the quality control project to consider possible “narrow revisions” that would ease auditor adoption of rules set to take effect in December, Demetrios Logothetis said during his inaugural meeting as board chair.
Aspects of the foundational rules for how firms police the quality of their work “may be unnecessary” and might not deliver ...
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