 |
Sarbanes-Oxley News & Developments
Fresh Ideas on Auditor IndependenceSome off-the-wall tactics might be needed to keep audits honest.
> > While the Sarbanes-Oxley Act set up a broad-gauge attack on auditor-independence abuse, some off-the-wall tactics might be needed to keep audits honest, academics say.
One way to assure objective accounting is to encourage insurers to underwrite coverage for financial-statement risks, according to one professor. Another proposes melding the income statement and the corporate tax return into a single form to help erase auditor conflicts of interests. These ideas emerged at an "Auditor Independence Forum" focused on diagnosing and offering potential cures for what might often be a too-close-for-comfort relationship between auditors and their clients.
Source: CFO
Published:2004-05-19
|
|
