![]() ![]() The final rules provide accounting firms with a limited exception from being deemed not independent for certain inadvertent independence impairments if they have quality controls and satisfy other conditions. The scope of services provisions do not extend to services provided to non-audit clients. They also identify certain non-audit services that, if provided by an auditor to public company audit clients, impair the auditor's independence. The amendments shrink the circle of family and former firm personnel whose employment impairs an auditor's independence. The amendments, among other things, significantly reduce the number of audit firm employees and their family members whose investments in audit clients are attributed to the auditor for purposes of determining the auditor's independence. The amendments modernize the Commission's rules for determining whether an auditor is independent in light of investments by auditors or their family members in audit clients, employment relationships between auditors or their family members and audit clients, and the scope of services provided by audit firms to their audit clients. ![]() SUMMARY: The Securities and Exchange Commission ("SEC" or "Commission") is adopting rule amendments regarding auditor independence. SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 210 and 2-AH91ĪGENCY: Securities and Exchange Commission ![]() Revision of the Commission's Auditor Independence Requirements Final Rule: Revision of the Commission's Auditor Independence Requirements File No. ![]()
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