Accounting Board Proposes Amended Auditing Rules

Law360, New York (December 19, 2006, 12:00 AM EST) -- The board tasked with overseeing auditing at public companies has proposed changing some corporate auditing requirements, a move meant to make the auditing standard more concise and efficient and ease the burden the Sarbanes-Oxley Act imposes on smaller companies.

Tuesday, the Public Company Accounting Oversight Board voted unanimously to put the new standard up for public comment. The board will accept comment for 70 days, and then decide whether or not to adopt a final standard. If adopted, the standard would then be submitted to the...
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