SEC Acting Chief Accountant Cautions Against “Checklist Compliance” Approach to Auditor Independence

SEC Acting Chief Accountant Paul Munter re-emphasized the SEC’s focus on auditor independence in his June 8 statement on “The Critical Importance of the General Standard of Auditor Independence and an Ethical Culture for the Accounting Profession.” This latest statement follows a pair of statements issued in October 2021 and December 2021, both of which similarly highlighted auditor independence.