According to Accounting Today, the SEC loosened independence rules as part of a deregulatory push in recent years.
- According to the article, what will the amendments to Rule 2-01 of Regulation SX do?
- How do the new and old rules vary on the following situation: An auditor is with a firm that audits a lender that provided the individual auditor with his/her student loan.
- What was some of the dissention against the change?
Cohn, M. (2020). SEC loosens auditor independence rules. Accounting Today, Oct. 16 (Retrievable online at https://www.accountingtoday.com/news/sec-loosens-auditor-independence-rules?)