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And companies recklessly put workers in danger, violating health and safety regulations and retaliating against workers who speak out. When public companies are breaking the law, it hurts both investors and the public — so violations *should* be caught during routine company audits. But right now, there are two big problems that prevent auditors from holding corporations accountable:
Here’s the good news: The organization in charge of regulating auditors, the Public Company Accounting Oversight Board, just introduced a proposal that requires auditors to become vigilant public watchdogs instead of passive rubber stampers. But some auditors and corporations don’t want to be held to higher standards, and are trying to stop this proposal before it is finalized. This new proposal would require auditors to step up and detect when companies break the law and commit financial fraud. It tells auditors that:
Auditors have a huge responsibility, and their actions affect us all. We've seen the consequences of unchecked corporate behavior before, and we can't afford to let history repeat itself. Thanks for taking action, Mek (she/her) |
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Public Citizen |
