Call us now:
There’s a difficult debate taking place between the US Senate and the wider US accounting profession. As the recent hearing between the Senate Finance Committee and the PCAOB seems to demonstrate, with a board member of the PCAOB going public, saying she is being Persecuted.
The reason being a sharp rise in the number of flaws being identified in U.S Audit work by PCAOB inspectors. With 40% of audits being found to have had deficiencies in each of the past two years.
The enclosed letter was sent by Senators Elizabeth Warren and Sheldon Whitehouse to the chair of the PCAOB on the 9th October 2024, raising concerns over the effectiveness of the PCAO in regulating the audits of public companies.
https://lnkd.in/eKpQTTX2
This debate is set to continue, as more and more regulation comes to the fore, requiring boards state material risks. At a time when the audit profession is finding it difficult to attract the necessary talent.
@Thaddeus Dziekanowski Brian D. McCarthy Rachel V. Rose, JD, MBA
Veritas GRC United States Senate Committee on Finance Public Company Accounting Oversight Board (PCAOB)
#cybersecurity #cyberriskmanagement
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