Auditors Appeal to SEC to Delay Rollout of Quality Control Rules

US auditors asked the SEC to delay adoption of tough new rules for how they police their work, challenging external oversight requirements that they say weren’t part of an earlier proposal.

Audit firms and other stakeholders challenged what they consider to be the expanded role of independent overseers as firms stand up compliance safeguards meant to deliver reliable audits of corporate accounting. They also asked that the US audit regulator re-propose the rules, which would provide another opportunity for firms to shape the requirements, according to letters to the Securities and Exchange Commission.

The Public Company Accounting Oversight Board finalized ...