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Board adopts staff recommendation to maintain proposed regs requiring firms to disclose attest-signing authority to clients and peer reviewers
Summary
The California Board of Accountancy voted to maintain the proposed regulatory text for California Code of Regulations, Title 16, sections 41 and 50.1, which require accounting firms providing attest services to disclose if no owner is authorized to sign attest reports and to notify clients of the name and license number of the authorized signer.
The California Board of Accountancy on March 20 adopted staff'recommended responses to public comments and voted to maintain the proposed regulatory text for California Code of Regulations, Title 16, sections 41 and 50.1.
Regulatory staff said the amendments address issues identified when accounting firms composed solely of CPAs with only "general accounting experience" provide attest services. The proposed rules would require firms that provide attest services to disclose to peer…
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