Two external auditors accepted ? 1040

  • For one of our locations, it will be necessary to be certified by PWC instead of DTT which is in charge all the company.
    Does SOX accept two different auditor companies providing certification of SOX compliance ?

  • Please pardon the belated response.
    I worked on a 404 Audit earlier this year and both KPMG and DTT were
    on site. KPMG was the lead and DTT had the redundancy aspect.
    I should also qualify this: The prescence of both was mandated by the
    DOJ based on a legal settlement and its parameters.
    Hope this helps. 🙂

  • Only one will certify and render an opinion to be included in your external FS. IF D-and-T is the primary auditor, then they will provide the opinion. Is PWC testing on behalf of D-and-T for that location or on behalf of management?

  • As Mike correctly states only the lead auditor (the one that audits the SEC filing) gives any sort of certification. Individual locations would not normally be certified. The auditing standards cover reliance on the work of other auditors and PWC and DTT should be well aware of this. This should not be an issue for the auditee company.

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