SIA and TBMA Submit Comments to the AICPA on the Due Diligence Process
Published on:
October 6, 2005
The Securities Industry Association (SIA)* and The Bond Market Association (TBMA)* provides comments to the American Institute of Certified Public Accountants (AICPA)on the AICPA proposal to withdraw auditors diligence process of securities offerings. SIAshares it concerns with the AICPA that the proposed end to auditor involvement in due diligence and in crafting disclosure would jeopardize investor protection; anddisenfranchise investors and the public from the overall process.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.