Auditing Watchdog Wants Disciplinary Hearings Public

Law360, New York (April 6, 2011, 4:05 PM EDT) -- The head of the Public Company Accounting Oversight Board on Wednesday told a Senate panel that his agency needs the authority to hold public disciplinary hearings and halt potentially harmful practices while litigation is pending in order to protect investors.

Speaking before a hearing of the Senate Banking Committee's subcommittee on securities, insurance and investment, PCAOB Chairman James R. Doty said the secrecy prevents investors from knowing whether companies are being audited by firms that are in violation of accounting standards and would be an important...
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