Washington (Aug. 11, 2003) – U.S. banking regulators issues final rules Friday for suspending or barring accounting firms from working for large banks if they violate professional standards, or are deemed negligent in their work.

The final rules, which become effective on Oct. 1, establishes procedures agencies can go through to bar accounting firms from performing audit and attestation services for banks with assets of $500 million or more.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access