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The rule also has the possible of disrupting the model proven by the Sarbanes-Oxley Act of 2002 (SOX) for auditor oversight by an independent audit committee and in addition would not properly address the information demands of audit committees.”
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“We imagine audit committees are very best positioned to find out what engagement-level metrics are meaningful within their oversight and to ask for such metrics with the auditor,” Grant Thornton wrote. “Audit committees oversee the independent auditor and also have a novel role in overseeing the corporate’s fiscal reporting, things to do, and performance.
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We collected 232 personal info factors from eight major accounting programs To guage and charge accounting software for small organizations. We researched and evaluated 29 different factors, grouped into four broad categories: cost, features, standing, and shopper experience.
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In its remark letter, Huge Four firm KPMG wrote that it has problems about specified implications for metrics “that do not automatically correlate with audit high quality.”