U.S. Audit Regulator Board Member Pushes for Greater Global Role

A member of the U.S. audit oversight board is calling for the regulator to take a pioneering role in setting the global bar for auditing and to better address investor concerns in a rare, dissenting opinion.

Jay Brown, a member of the Public Company Accounting Oversight Board, in a statement published Wednesday, criticized the board’s reluctance to update rules for going concern assessments and the reliability of non-GAAP reporting as some investors want.

“The recent updates to the research and standard-setting agendas do not adequately reflect the views of investors,” Brown said. “This is a tragic mistake.”

The board updated ...