The U.S. audit regulator has the Securities and Exchange Commission’s support to go ahead with a permanent inspection program for broker-dealers in 2020.
SEC Chairman Jay Clayton told the Public Company Accounting Oversight Board Dec. 18 to pursue a program that would serve investors best.
The 2010 Dodd-Frank Act assigned the board oversight of the auditors of broker-dealers and gave it flexibility to decide whether and how often to conduct inspections. Auditors of broker-dealers have struggled under an interim inspection program to comply with PCAOB rules .
PCAOB Chairman William Duhnke told the commission that the board has ...
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