The chief auditor of the Public Company Accounting Oversight Board (PCAOB) told audit firms they need to do a better job of keeping their clients on the straight and narrow and should push for potentially more expensive, forensic-like approaches to annual reviews of financial statements, Financial Week reports.
PCAOB Chief Auditor Thomas Ray, speaking last week, before a meeting of the American Institute of Certified Public Accountants, said he expects audit firms to do more to find potential fraud on corporate financial statements.
See full Article.
Posts
