U.S. SEC Says It Approves A New Public Company Accounting Oversight Board Quality Control Standard
Portfolio Pulse from Benzinga Newsdesk
The U.S. SEC has approved a new quality control standard, QC 1000, for public accounting firms, aiming to enhance audit quality and investor protection. This standard requires firms to identify risks and implement a quality control system, with annual evaluations and external quality control functions for larger firms.
September 09, 2024 | 3:52 pm
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The approval of QC 1000 by the SEC is a regulatory change that could impact the overall market, including SPY, as it aims to improve audit quality and investor protection, potentially increasing market confidence.
The new QC standard aims to improve audit quality, which could enhance investor confidence in financial reports, potentially benefiting the broader market, including SPY.
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