Smaller Auditors Urge Regulator to Slow Pace of Rule-Writing

Mid-tier and small accounting firms are struggling to keep up with the rapid pace of new rules coming out of the US audit board, they said in a letter Friday.

They warned the regulator that they might be forced out of the market serving public companies as a result.

To combat the strain of significant rule changes, the smaller auditors urged the Public Company Accounting Oversight Board to publish concept documents as an initial step before issuing any draft rules, provide longer comment periods, and stand up an office or advisory group for small firms. The request came in a ...