PCAOB To Weigh Auditor, Board Communications

Law360, New York (March 25, 2010, 2:20 PM EDT) -- Following a bankruptcy examiner's report that questioned accounting practices used by Lehman Brothers Holdings Inc. before its collapse, the Public Company Accounting Oversight Board has said it will consider a new standard for what communications an auditor should be required to have with a corporate board's audit committee.

The PCAOB, which is tasked with overseeing auditors for U.S. public companies, said Wednesday it will hold an open meeting March 29 to examine a proposal to create new ground rules for how outside auditors should communicate with...
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