There are several relatively straightforward steps the Biden administration could take. They involve the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB). Some would require legislation, and some assume the new administration can muster a working majority at the SEC. But to really make a difference, the Biden administration will have to do more than tinker. That’s because, at its core, the auditing of corporate America is fatally compromised. It needs fundamental reform.
‘Enforcement 40’ for 2020
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