Former Computer Science Corp. CFO says that corporate compliance efforts would be more effective if they didn't proceed in lock-step with auditor agendas.
The question, asked by Scott Taub, the acting chief accountant of the Securities and Exchange Commission, might have been purely hypothetical. But participants at a May 10 panel on management's role in assessing and evaluating internal controls seemed to warm to it as if Taub might seriously be mulling an ouster of external auditors from Sarbox 404 compliance.
"How would management's process be different if audit wasn't there?" Taub asked panelists at the Roundtable on second-year 404 experiences, which was sponsored by the SEC and the Public Company Accounting Oversight Board.
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