By Lene Powell, J.D.
A healthy “tone at the top” is crucial for public accounting firms in maintaining culture, professional skepticism, quality control systems, and public responsibility as gatekeepers of U.S. capital markets, SEC Chief Accountant Paul Munter said in a new statement. He encouraged firm leaders to instill an ethical culture by rewarding difficult stands, boosting candor and transparency, and structuring businesses appropriately, among other actions.
“[I]t is critical that leaders of public accounting firms lead by example and foster a healthy tone at the top by prioritizing integrity and professionalism over profit and growth,” said Munter.
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