U.S. Officials Urge World Authorities to Boost Audit Quality

The top SEC accountant and U.S. audit regulator are urging accounting firms worldwide to boost the quality of their audits.

“Audit firms need to invest, around the world, in the consistency of the audits because we’re counting on consistent, high-quality audits in the U.S. That’s what we require, that’s what we’ll continue to insist on,” Securities and Exchange Commission Chief Accountant Wesley Bricker said Dec. 10.

The financial markets need strong audit firms, Bricker told the American Institute of CPAs annual SEC-PCAOB conference in Washington.

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Public Company Accounting Oversight Board Chairman William Duhnke had this advice at the ...