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Exact(26)
But most feel that the pressure on auditors has eased off a little.
Parts of that law put an intolerable burden on auditors and managers.
"We're heaping a lot of responsibility on auditors these days," he said.
Legislation passed last year, intended to prevent other scandals, also imposes new duties on auditors.
Under the law, the S.E.C. does not have the authority to levy financial penalties on auditors who fail to do their jobs.
In 2000, the big five fought a concerted and successful effort against a ban on auditors performing other work for their audit clients.
Similar(34)
The accounting industry generally opposed new regulations on auditor independence, but PricewaterhouseCoopers was one of a few firms that took a less combative approach.
"This program means that instead of one auditor coming around once in a while to check on things, we have 400 auditors on the job all the time".
The Big Four point out that some European countries have caps on auditor liability.
National laws on auditor independence now vary considerably within the union.
· Better access to information for shareholders at AG Ms.· Allows companies to agree limits on auditor liability.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com