SEC, US Audit Board to Collaborate on More Audit Investigations

The SEC and US audit board plan to combine their enforcement resources to target serious audit violations and auditors with a history of repeated missteps, officials with the two regulators said Tuesday.

“There are firms that just continually come up in our space,” Ryan Wolfe, chief accountant for the Division of Enforcement at the Securities and Exchange Commission, told a Baruch College audit event in New York Tuesday. “We need to have an all-hands-on-deck approach for this class of firms. Because it’s not doing the profession any good, it’s not doing investors any good…..

Source: SEC, US Audit Board to Collaborate on More Audit Investigations