Mar
07

Auditioning Auditors

auditAs of 1/31/17, the partner at an accounting-firm heading up an audit of a US public firm is public information. As expected, auditors fought against this rule mightily. Can you say Enron, Worldcom and Bernie Madoff? This increased accountability should result in better audits and notoriety for partners associated with restatements and worse. The downside, with audits now being less of a commodity, star auditors should command higher fees.

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