The Center for Audit Quality has urged US audit committees to “consider the opportunities to enhance transparency” in some key areas.
US audit committees have made great strides to improve transparency surrounding their work, though some areas remain stubbornly in the dark, according to a new study.
A report from the Center for Audit Quality into the S&P 500 reveals that while 84% disclose discussion of non-audit services, and 71% chew over the length of time an auditor has been engaged, they seem remarkably shy when it comes to more sensitive topics.
For example, no audit committees in the S&P 500 disclose discussions about having to address “significant areas” with their auditors. Only 4% (5% in 2018) disclose talks about the connection between the audit
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