The Center of Audit Quality is celebrating its 10th anniversary today and the panels feature a bunch of BIG AUDIT executives, past and present regulatory leaders from the PCAOB and SEC and some other notables.
Accounting Today has been tweeting highlights from the afternoon session and it included this missive attributed to Grant Thornton International CEO Ed Nusbaum:
Nusbaum says most US companies aren’t rushing to do integrated reporting or sustainability reporting and don’t want to pay auditors for it.
— Accounting Today (@AccountingToday) January 30, 2017
Back in March of last year, I said that “I have no idea whether companies will embrace sustainability reporting or not,” and I guess the answer, at least in the short term, is “Nope!” And given the current political climate for regulations, this has little chance to change any time soon.
Oh! And to top it all off, governance isn’t exactly robust. Here’s something a former CEO of the National Association of Corporate Directors said:
Former NACD CEO Ken Daly says a lot of audit committees think their whole job involves negotiating down the audit fee.
— Accounting Today (@AccountingToday) January 30, 2017
But who knows! People may warm up to the idea some day.
