SEC Moves to Ease Audits for Smaller Companies

WASHINGTON—The Securities and Exchange Commission voted 3-1 on Thursday to advance a proposal that would exempt public companies with less than $100 million in annual revenue from regular outside audits, part of a broader effort to entice more companies to go public.

Under the plan, smaller public companies such as those in the health care, information technology and biotech industries would get a pass from outside audits of their systems for preventing accounting errors and fraud, easing rules put in place nearly two decades...

Interesting, Is the cost of an audit from a public firm that much though? I would be interested in any other studies or analyses weighed against the cost to any investors.

Elizabeth Warren, are you watching this SEC move?

Uhhh, there must be a better way to accomplish this than easing FRAUD audits

What?

Why?

The plan is to allow these 'smaller' companies to bamboozle the unwitting public - and then, of course, blame losses on the stupidity of investors.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

No settlement expected in $27 million SEC 'market manipulation' case, court filing saysFlorida businessman Barry Honig appears to no longer want to settle with the SEC in a case it called 'classic pump-and-dump schemes,' according to a Tuesday filing. Why drag Derek Jeter into this?
Source: CNBC - 🏆 12. / 72 Read more »

A Slack director is in hot water with the SEC for saying the company, which just filed to go public, 'will be one of the most important tech companies in the world'Slack says one of its directors made 'unauthorized statements' which may violate 'quiet period' rules in its IPO. Should've pulled a Musk...y'know; be white.
Source: BusinessInsider - 🏆 729. / 51 Read more »

A Slack director is in hot water with the SEC for saying the company, which just filed to go public, 'will be one of the most important tech companies in the world'Slack says one of its directors made 'unauthorized statements' which may violate 'quiet period' rules in its IPO. Should've pulled a Musk...y'know; be white.
Source: BusinessInsider - 🏆 729. / 51 Read more »