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He complained about a "burdensome standard" for auditors.
To provide a clearer idea of their expectations, they are publishing a new handbook for auditors.
That ought to be motivation enough for auditors to do a better job than ever before.
Standard practice is for auditors to write independently to banks for confirmation of cash balances.
But higher prices are by no means the most serious danger reform poses for auditors' clients.
The Public Company Accounting Oversight Board published a new standard for auditors aimed at lowering costs.
The government and crossbench also agreed on amendments to increase accountability for auditors of unions.
Term limits for auditors is the most sensible and practical option.
But it did advertise on Craigslist in February for auditors for the Mayweather-Pacquiao fight.
There may also be opportunities for auditors, consultants and firms dealing in new compliance and information technology systems.
While providing consulting or other services is not necessarily a problem for auditors, he continued, "that perception needs a response".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com