Regulators Crack Down on Auditor Independence Violators
The U.S. Securities and Exchange Commission announced Monday it had sanctioned eight audit firms for using information provided by brokerage firms during their audits thereby inappropriately aligning themselves with the interests of clients’ management teams in helping prepare the books rather than strictly auditing them. Read the full article.
USPS Still Assessing Damage, Delays Financial Report
The US Postal Service continues to feel the effects of its November data breach and will now delay the filing of its 2014 financial report as the agency still hasn’t determined whether financial data was compromised or not.
USPS submitted a Notification of Late Filing to the United States Postal Regulatory Commission, dated November 28, which details its request for delaying the report. Read the full article.
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