The Treasury Department's Advisory Committee on the Auditing Profession has released its final report with recommendations on how to improve the sustainability of the profession - but not without some dissension.The committee approved the report by a vote of 14-1, with the lone dissenting vote cast by Lynn Turner, a former chief accountant of the Securities and Exchange Commission.
In his dissenting statement, he explained that committee members were only given the choice of voting for or against the report in its entirety. His main objection was to a recommendation that the audited financial statements of the larger firms be provided to the Public Company Accounting Oversight Board on a confidential basis.
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