The Business Times

Stephen Foley

US president Donald Trump has called for the Securities and Exchange Commission to drop rules that have been in place for decades that require most public US companies to disclose their financials once every three months.

Donald Trump tilts balance of power from investors to CEOs

His call to scrap quarterly reports comes as Securities and Exchange Commission mulls curbing shareholder lawsuits

PwC is among the big firms trying to kill the rule at the eleventh hour in a move that has raised eyebrows among some investor groups.

Audit quality fight turns nasty

Big firms are fighting proposed rules on external oversight

Regulators fear auditors are failing in their role as a last line of defence for investors against corporate shenanigans
THE BOTTOM LINE

Why don’t auditors find fraud?

Regulators have put forward a series of proposals to clarify and extend responsibilities to spot wrongdoing

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