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Treasury Audit Committee Seeks Comments on Report Addressing Future of Profession
by Stephen Joyce, BNA (Subscription required for full article)
In an overview of the Treasury Department's Advisory Committee on the Auditing Profession's draft report and recommendations, BNA's Daily Report for Executives noted at the top that the committee "did not recommend limits on auditor liability. Instead, a key recommendation was one in which regulators would monitor potential sources of catastrophic risk faced by public company audit firms and create a mechanism for saving these firms, particularly larger ones."
