Discipline 'coming to auditing standards'
New York – William McDonough, outgoing chairman of the Public Company Accounting Oversight Board (PCAOB), says a new level of compliance to regulations is in the making in the securities industry.
Speaking at a Financial Executives International (FEI) conference in November, McDonough said: "We have 2–3 years for a new level of adherence to regulations to take root."
"SOX has had a profound effect on the integrity of financial reporting on our capital markets, and on the reliability of public company audit reports. The act has touched virtually every aspect of the financial reporting
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