A good thing or a bad thing? History, and corporate failures have shown that there needs to be tighter oversight of auditors of public companies.

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A good thing or a bad thing? History, and corporate failures have shown that there needs to be tighter oversight of auditors of public companies. Audit firms ain’t happy about it and are fighting back.

‘The PCAOB, under the Biden administration-appointed chair Erica Williams, has been finding more infractions of audit standards and fining auditors more heavily for them. Firms are worried that the agency’s inspectors will be poring over the work of the new oversight bodies in search of paperwork violations and other gotcha opportunities. The financial stakes are higher, and trust lower, than in the past.’

The fight between audit firms and regulators is set to continue, in what is a high stakes game of regulatory oversight, and fines.

@Thaddeus Dziekanowski Brian D. McCarthy Ryan Buckner

Veritas GRC

#cybersecurity #cyberriskmanagement #audit #governance

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