PwC comments on SEC independence proposal

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Comment letter , PwC US Mar 17, 2020

PwC has expressed general support and a few recommendations in response to the SEC’s proposal to amend Rule 2-01, Qualifications of Accountants.


The proposal aims to modernize the independence rules and would:

  • change the scope of entities considered to be affiliates of an audit client;
  • shorten the SEC/PCAOB independence look back period for first time domestic filers;
  • permit certain student loans and de minimis consumer loans;
  • amend the Business Relationships rules; and
  • implement a transition framework for independence violations resulting from merger and acquisition transactions

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Heather Horn

Heather Horn

US Strategic Thought Leader, National Professional Services Group, PwC US

David Schmid

David Schmid

International Accounting Leader, National Professional Services Group, PwC US

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