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SEC Greenlights ‘Hurried’ Auditor Independence Rule Changes

Jan. 19, 2021, 7:09 PM

The SEC has approved changes to auditor conflict-of-interest rules that relax thresholds for certain relationships and lending activity that could impair an auditor’s judgment.

The commission issued an order dated Jan. 14 approving the Public Company Accounting Oversight Board’s revised auditor independence standards, which comport with related changes to SEC requirements for accountants that are set to take effect in June.

The PCAOB adopted the amendments to its independence standards in November, a month after the commission finalized its own narrow rule changes. The Securities and Exchange Commission oversees the work of the ...