Bloomberg Tax
Aug. 29, 2022, 10:20 PM

SEC Top Accountant Sets Ground Rules for CPA Firm Business Deals

Amanda Iacone
Amanda Iacone

Audit firms looking to split off portions of their business or considering investments from private equity have a road map from the SEC to ensure auditors can meet strict US conflict of interest rules regardless of the deals they cut.

Firms that might ink a deal with private equity investors should consider whether the PE firm also would face complying with auditor independence rules as if it were part of the accounting firm, said Paul Munter, acting chief accountant to the Securities and Exchange Commission, in staff guidance issued Monday.

  • Munter’s latest statement builds on previous speeches and documents ...

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