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Watergate-era Audit Fraud Rules Face Post-Wells Fargo Revamp

The Public Company Accounting Oversight Board aims to modernize requirements detailing how auditors should consider the risk that a public company's clients violated a law or regulation. Hear what Steve Richards, Senior Managing Director at Ankura, has to say on the illegal acts rules and governance changes circa 1989 vs today.

Read the full article as published by Bloomberg Tax >>

© Copyright 2022. The views expressed herein are those of the author(s) and not necessarily the views of Ankura Consulting Group, LLC., its management, its subsidiaries, its affiliates, or its other professionals. Ankura is not a law firm and cannot provide legal advice.

They are more important than ever,” said Steven Richards, a former auditor and now senior managing director with Ankura Consulting Group, of the board’s rules for vetting possible crimes that auditors come across in the course of their work. But those rules haven’t kept up with how businesses operate, nor investors’ higher expectations of auditors, he said.


financial services, finance, financial services disputes, article

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