PCAOB PROPOSES NEW ETHICS RULEWASHINGTON, D.C. - The Public Company Accounting Oversight Board has proposed a new ethics rule on communicating with audit committees concerning independence.

Rule 3526 would require an accounting firm to communicate to a company's audit committee about any relationships between the firm and a company that might reasonably affect the firm's independence. The communications would be required before the firm accepts any new engagement, as well as annually for continuing engagements.

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