On October 16th, the SEC announced that it approved final rule amendments to revise certain auditor independence requirements in Rule 2-01 of Regulation S-X. In May 2018, the SEC welcomed suggestions for other revisions to the independence requirements in its proposed rule for Auditor Independence with Respect to Certain Loans or Creditor/Debtor Relationships, which resulted in the December 2019 Proposing Release for Amendments to Rule 2-01. The initial independence requirements were adopted in 2000 with amendments last updated in 2003.
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