PCAOB issues proposal to strengthen accountability for contributing to firm violations

The PCAOB proposed amendments to contributory liability in two primary ways:

• Change from recklessness to negligence the standard of conduct for associated persons' contributory liability

• Provide that an associated person contributing to a violation need not be an associated person of the registered firm that commits the primary violation (i.e., that an associated person of one firm can contribute to a primary violation of another firm).

Comments are due by November 3. 

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