SEC Acting Chief Accountant Releases Statement on Auditor Independence
June 10, 2022
SEC Acting Chief Accountant Paul Munter has released a statement on the importance of auditor independence to the accounting profession. Topics addressed by Mr. Munter in the statement include:
- The “general standard” of auditor independence under SEC Regulation S-X, Rule 2-01(b).
- The OCA’s approach to consultations related to auditor independence.
- Certain “recurring issues in recent auditor independence consultations.”
- The importance of fostering an “ethical culture with respect to auditor independence.”