Sarbanes-Oxley Fails on Auditor Independence


A recent report from the federal accounting industry watchdog agency, the Public Company Accounting Oversight Board, found that the incidence of deficient audits performed by the Big Four accounting firms doubled in 2010, reaching a somewhat horrifying 33 percent. As a former partner at a Big Four accounting firm who has been practicing tax accounting for 35 years, I was not surprised.

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