SEC proposes amendments to auditor independence rules

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May 02, 2018

On May 2, 2018, the Securities and Exchange Commission (SEC) issued a proposed rule, “Auditor Independence With Respect to Certain Loans or Debtor-Creditor Relationships.”

The proposed rule would “refocus the analysis that must be conducted to determine whether an auditor is independent when the auditor has a lending relationship with certain shareholders of an audit client at any time during an audit or professional engagement period.”

Comments on the proposal are due 60 days after the date of its publication in the Federal Register.

Review the proposed rule on the SEC’s website.

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