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US Treasury Secretary Paulson announced the members of the Treasury Advisory Committee on the Auditing Profession. The public committee will make recommendations to encourage a more sustainable auditing profession.
"This Committee has been chartered to develop recommendations as to what can best be done to sustain a vibrant auditing profession, a profession whose work is critical to investor confidence in our capital markets", said Secretary Paulson
The committee will examine auditing industry concentration, financial soundness, audit quality, employee recruitment and retention, in addition to other topics. Treasury expects the committee to produce findings and recommendations by early summer 2008.
The committee structure will encourage an open and public discussion, with no predetermined outcomes. Meetings will be open to public attendance and comment at the Committee website.