- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Auditors have just been handed extensive new disclosure requirements that are largely expected to make public company audits take more time and cost more money.
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Audit committees may soon reconsider certain areas of corporate disclosure to get ahead of “critical audit matters” that will begin appearing in audit reports in 2019.
Now that audit reports are beginning to disclose auditor tenure, audit committees face new pressure to give it careful consideration in retention decisions.
When investors decry the black box of public company auditing, asking for more visibility, they’re referring to cases like KPMG’s audit work at Wells Fargo.
