Auditors ask SEC to delay rollout of quality control rules

Auditors ask SEC to delay rollout of quality control rules

U.S. auditors have asked the SEC to delay adopting tough new rules on how they audit their work, challenging external oversight requirements that they say were not part of an earlier proposal.

Audit firms and other stakeholders have questioned what they see as the expanded role of independent monitors as companies put in place compliance safeguards intended to provide reliable audits of corporate accounting. They have also called for the U.S. audit regulator to repropose the rules, which would give companies another opportunity to shape the requirements, according to letters to the Securities and Exchange Commission.

The Public Company Accounting Oversight Board has finalized…