Sentence examples for for their audit from inspiring English sources
Mr. Levitt has said that the firms' consulting work poses a potential conflict of interest for their audit work.
Indeed, federal regulators are hammering out tough new limits on accounting firms' ability to perform lucrative consulting work for their audit clients.
The S.E.C. had sought to bar auditing firms from performing information technology consulting -- like designing and installing large computer systems -- for their audit clients.
Sometime before his term ends, the S.E.C. is likely to approve rules that will limit the amount of consulting services auditors can provide for their audit clients.
"Congress is considering banning auditors from performing various nonaudit services, including tax, for their audit clients," said the alert, which also noted other "auditor independence" proposals under consideration.
Earlier in the year, Congress was breathing fire about audit reform, including tougher regulation of accountants and banning firms from doing consulting work for their audit clients.
NSF officials said that for their audits, this was a low score.
Last year, the S.E.C. reached an agreement with four leading accounting firms on a new rule that would substantially reduce the amount of consulting work that the firms could do for their auditing clients.
The Securities and Exchange Commission reached an agreement yesterday with four leading accounting firms on a new rule regarding independence that will substantially reduce the amount of consulting work that the firms can do for their auditing clients.
A survey by the FEI, an association of top financial executives, found that companies paid an average of $2.4m more for their audits last year than they had anticipated (and far more than the statute's designers had envisaged).
[Page C18.] S.E.C. Reaches Deal on Audit Rule The Securities and Exchange Commission reached a deal with four leading accounting firms on a new rule regarding independence that will reduce the amount of consulting work that the firms can do for their auditing clients.
