The Employee Benefits Security Administration is seeking public comment on whether to update guidelines intended to ensure the independence of accountants who audit employee benefit plans, according to a news release. The accounting industry has changed significantly since the existing guidelines were adopted 30 years ago, and independence standards for accountants have been revised by the SEC and the American Institute of Certified Public Accountants.
The formal notice of the request for information will be published in the Federal Register on Sept. 11, according to the release.
