{"id":32996,"date":"2013-12-10t10:38:47","date_gmt":"2013-12-10t15:38:47","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=32996"},"modified":"2013-12-19t08:40:12","modified_gmt":"2013-12-19t13:40:12","slug":"pcaob-chief-the-audit-is-irrelevant","status":"publish","type":"post","link":"\/\/www.g005e.com\/2013\/12\/10\/pcaob-chief-the-audit-is-irrelevant\/","title":{"rendered":"pcaob chief: “the audit is largely irrelevant”"},"content":{"rendered":"
\"james
james doty<\/figcaption><\/figure>\n

also, pcaob plans investigation into the big four return to consulting.<\/strong><\/p>\n

talking bluntly to cpas, the chairman of the public company accounting oversight board said:<\/p>\n

“the public has trouble discerning the difference between one audit and another. with little information about particular audits, a conventional wisdom is gradually developing that the audit is largely irrelevant to the investment process today.”<\/p>\n

in addition, chairman james doty raised questions about cpa firms’ increasing involvement in consulting as a potential conflict of interest.\u00a0\u201cwhat will firm management do to meet the compensation and cultural challenges that destabilized arthur andersen?\u201d<\/p>\n

the move toward consulting was spotlighted in october when pwc agreed to buy management-consulting firm booz & co. in an effort to beef up its consulting capabilities.<\/p>\n

moreover, doty questioned: read more →<\/a><\/p>\n