The Employee Benefits Security Administration, part of the Labor Department, is seeking comment on its plans to update guidance on the independence of accountants who audit employee benefit plans.

The existing guidance, Interpretative Bulletin 75-9, was published more than 30 years ago, according to the administration. Since then the accounting profession has seen a number of changes in audit services, industry consolidations, and revisions in general accountant independence standards by the Securities and Exchange Commission and the American Institute of CPAs.

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