Thursday, February 09, 2006
Extended scrutiny causes alarm for foreign auditors
The US Public Company Accounting Oversight Board has attempted to allay fears over plans to significantly increase the number of inspections of foreign audit firms this year.
The board indicated that the rise was due to ‘natural growth’, and did not indicate any change of policy or any new concerns about foreign auditors.
‘Yes, we are doing more inspections of foreign firms this year, in the same way that we’re doing more inspections of US firms, but there is nothing new about this,’ said a PCAOB spokeswoman.
posted by Brian Moran @ 9:18 AM