This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

SEC Acting Chief Accountant Discusses Auditor Independence and Audit Committee Oversight

  • US_SEC Image

Oct 26, 2021

On Oc­to­ber 26, 2021, the SEC Acting Chief Accountant, Paul Munter, issued a statement on the importance of auditor independence and the audit committee oversight of the independent auditor in establishing high-quality financial reporting.

His remarks cover the following topics:

  • Introduction
  • The Importance of Auditor Independence
  • Responsibility of Audit Committees and Management
  • Responsibility of Audit Firms
  • General Standard of Independence
  • Importance of Audit Committee Oversight of the Independent Auditor
  • Closing

Re­view the statement on the SEC’s Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.