Latest News

Burned Investors Ask ‘Where Were the Auditors?’ A Court Says ‘Who Cares?’

the close up of the five rows coins ,and the coins jar that fell, with the back ground is a dark blue graph.

Judges request that SEC weigh in on case that could affect $17 billion industry

The Securities and Exchange Commission has said that properly executed audits are crucial for investors. Photo: Ariel Zambelich/The Wall Street Journal

One of the country’s most influential courts has asked the nation’s top securities regulator for its views on an uncomfortable subject: whether audit reports by outside accounting firms actually matter.

The court already ruled that, at least in one case, they didn’t. That case, where an insurer overstated profits and an auditor signed off on its books, led to an investor lawsuit against the auditor that was dismissed. In its ruling, the court said the audit report was so general an investor wouldn’t have relied on it. 

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Sponsored Offers

Most Popular news

Most Popular opinion

Most Popular Opinion

Recommended Videos

Want $300 in Super Safe Dividend Income in 2024? Invest $3,250 Into the Following 3 Ultra-High-Yield Stocks.

Previous article

I Can’t Stop Buying Shares of This High-Yield Dividend Stock. Here’s Why I Plan to Buy Even More in 2024.

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News