Advisers to the Public Company Accounting Oversight Board on Tuesday urged the U.S. watchdog panel to give auditors some guidance on the emerging stock option backdating probe at dozens of companies.
"We need to write some guidance for auditors on when they need to be suspicious," said Scott Taub, acting chief accountant at the U.S. Securities and Exchange Commission and a member of the PCAOB's standing advisory group.
At a meeting of the group to discuss the fast-expanding, backdating scandal, several group members expressed concern at a time when policy-makers are starting to explore a problem that so far has been treated chiefly a law-enforcement issue.
Federal prosecutors, the SEC and the Internal Revenue Service are looking into possible manipulation of the grant dates and exercise prices of options given to executives.
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