Auditor independence 848

  • In the SEC release nr 33-8183: Strenghtening the Commission’s requirements regarding auditor independence are the following amendments to par. 240.14a 101 mentioned:

    • disclosure of audit fees
    • disclosure of audit related fees
    • disclosure of tax fees
    • disclosure of all other fees
    • if greater than 50%, disclosure the percentage of hours expended on the principal accountants’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountants’s full-time, permanent employees.
      My question is: how should I interpret the last requirement? How can the registrant obtain this information?

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