Communication with Audit Committees About Independence.

• Position: Brief article

The PCAOB voted to adopt Rule 3526, Communication with Audit Committees Concerning Independence, to enhance communication between audit committees and registered firms regarding the firm's independence.

Rule 3526 will require a registered public accounting firm, before accepting an initial engagement pursuant to the standards of the PCAOB. to describe in writing to the audit committee all relationships between the firm or any of its affiliates and the issuer or persons in a financial reporting oversight role at the issuer that may reasonably be thought to bear on the firm's independence.

Registered firms also will be required to discuss with the audit committee the potential effects of any such relationships on...