New York (Sept. 15, 2004) — Predicting that “powerful” forces within the profession may ultimately lead the Public Company Accounting Oversight Board’s standards to become the standards for non-issuers as well, board member Willis “Bill” Gradison may have, at least temporarily, doused the ongoing debate about the need for differential standards.
In remarks before attendees at a Sarbanes-Oxley conference here, Gradison said that while the “Big GAAP-Little GAAP debate is alive and well,” it may not “be workable to train and supervise an audit staff on two separate sets of standards.”
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