Tag: PCAOB registration

SEC Chief Accountant has advice for audit committees on lead auditors’ use of other auditors

In this new statement, SEC Chief Accountant Paul Munter—no longer “acting” Chief, he got the job—discusses some of the issues arising out of the increased use by lead auditors of other accounting firms and individual accountants (referred to as “other auditors”) on many issuer audit engagements.  While, in this context, much of the responsibility falls on the lead auditors, audit committees also have an important oversight role, and Munter has some useful advice for audit committee members.