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Audio Interview: Levitt Says Final Independence Rule Is Imminent
Our Guest: Arthur Levitt
U.S. Securities and Exchange Commission
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(Nov. 1, 2000)
Securities and Exchange Commission chairman Arthur Levitt says in an exclusive interview with SmartPros that the SEC will issue a final rule on auditor independence within 60 days.
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Question 1 |
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| Now that the 75-day period for comments and testimony on the proposed rules is over, what is the next step and when do you expect a decision to be made? |
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Question 2 |
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| Why do you think the proposal has been met with such opposition and did the SEC expect the profession to react in this manner? |
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Question 3 |
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| Many, including the AICPA, are concerned about what impact this proposal will have on small businesses, what is your response to that concern? |
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Question 4 |
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| Last month, PricewaterhouseCoopers and Ernst & Young submitted a proposal of their own. Does the Commission plan on adopting any elements of their proposal? |
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Question 5 |
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| The SEC has been bashed for allowing only 75 days for comments and testimony, what is your response to that concern? |
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Question 6 |
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| In your speech before the Council, you made some suggestions for the AICPA, can you elaborate on those suggestions? |
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