Wednesday, June 30, 2010

Reforms to transform auditor-regulator relations


Proposals may suggest structured relationship between auditor and regulator

Auditors may revive their open dialogue with regulators and even work for them while conducting their audits, as part of new proposals expected to be released this week.

The proposals will reopen dialogue between regulators and may lead to the expansion of so called Section 166 reports, used by regulators to seek information on a potential problem area in accounts.

See full Article.