StanceOfMindJun 24, 2025

While the U.S. auditor watchdog was handed a legislative lifeline last week, some accounting experts say the battle over its future is nowhere near over.

https://www.cfodive.com/news/pcaob-wins-senate-lifeline-future-remains-murky-accounting/751412/ #PCAOB #Accounting #Auditing #Finance #Politics #Oversight #FinancialReporting #Compliance

PCAOB wins Senate lifeline while future remains murky

The U.S. auditor watchdog got a legislative reprieve through the "Byrd bath" process last week. But the battle over its future is likely to persist, experts say.

CFO Dive
Show threadCory DoctorowJan 26, 2024

Crooked auditors were at the center of the #GreatFinancialCrisis, too:

https://francinemckenna.com/2009/12/07/they-werent-there-auditors-and-the-financial-crisis/

And of course, crooked auditors were behind the #Enron fraud, a rare instance in which a fraud triggered a serious attempt to prevent future crimes, including the destruction of accounting giant #ArthurAndersen. After Enron, Congress passed #SarbanesOxley (#SOX), which created a new oversight board called the #PublicCompanyAccountingOversightBoard (#PCAOB).

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They Weren’t There: Auditors And The Financial Crisis – Francine McKenna

jrosenbergMar 8, 2023
“Proof of reserve reports are inherently limited, and customers should exercise extreme caution when relying on them to conclude that there are sufficient assets to meet customer liabilities.” https://pcaobus.org/resources/information-for-investors/investor-advisories/investor-advisory-exercise-caution-with-third-party-verification-proof-of-reserve-reports
#cryptoassets #regulation #proofofreserves #PCAOB
Investor Advisory: Exercise Caution With Third-Party Verification/Proof of Reserve Reports

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