Accounting &Amp; Assurance Services/Updates

Summary

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As the federal government tightens controls over the accounting profession relative to publicly held companies, the AICPA is reacting to prevent total government control over all aspects of the profession. One area of focus is peer review. The AICPA is strengthening its peer review standards, increasing its oversight, and supporting transparency. These changes need to be substantive in order to support the AICPA's insistence on self-regulation. This column looks at several key provisions of the peer review program changes.

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Extract

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Accounting &Amp; Assurance Services/Updates

Can the accounting profession regulate itself? The question remains after decades of resisting increased governmental intervention. The profession maintains that it can police itself and ensure that its members perform up to publi...

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