Log Out

New Law Forces Accounting Firms to Disclose Investigations

 

The U.S. Defense Department (DoD) will soon force accounting firms it hires to disclose investigations they face, a requirement that chips away at federal protections that have long helped keep flawed audits of public companies under wraps. The directive was slipped without notice into last August’s $716 billion defense bill by Sen. Jack Reed (D-R.I.). It could have a significant impact on the many accounting firms that bid for auditing and consulting work at the Pentagon. Read more at Accounting Today.