More broker-dealer auditors with independence violations ...

September 15, 2016POINT OF VIEW / RECENT DEVELOPMENTS

I don't understand some auditors continuing to keep the books of broker-dealers they audit.  It's a well-known rule (the SEC's prohibition); been around for decades.  Broker-dealer auditors were subject to this rule before they became subject to inspection by the PCAOB.  The Board reported three more enforcement matters today, some with admissions (which don't happen as often as they should, in my opinion) - click here.  

Worst part is -- two of the three involved issues the PCAOB inspectors had cited before.  A form of protest ??