Securities Advisory: Auditor Independence
9/8/2003
The Securities and Exchange Commission has issued final rules required by Section 208(a) of the Sarbanes-Oxley Act of 2002, which are aimed at strengthening auditor independence. This publication discusses these final rules, passed in the light of a series of corporate scandals that highlighted conflicts of interest between accounting firms and their clients. The requirements imposed by these rules are being phased in between May 6, 2003, and May 6, 2004, as set forth in the chart at the end of this Advisory.
