The SEC’s amendments will more effectively focus the independence analysis on those relationships or services that are most likely to threaten an auditor’s objectivity and impartiality.
Final rule: SEC Release No. 33-10876; 34-90210
Voluntary early compliance is permitted after the amendments are published in the Federal Register provided the final amendments are applied in their entirety. Except for the revisions to the exemptions regarding student loans, consumer loans and multiple mortgages, retroactive application is not permitted.
The SEC’s amendments revise auditor independence requirements in several important ways:
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