SEC Chair Gary Gensler called on accounting firms to “remediate” a rise in the number of audits that fall short of US standards even as he praised the work of their regulator in approving its annual budget.
The Securities and Exchange Commission approved a $385 million spending plan for the Public Company Accounting Oversight Board on Wednesday, supporting a 10% funding increase that will bring on more inspectors to check the work of firms that review corporate accounting.
“The PCAOB is on the right path,” Gensler told reporters Tuesday following a SEC meeting in Washington. “I wish that auditing firms ...
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