another. Larger pools of potentially qualified independent auditors may promote competition among audit firms, which may lower audit fees. Reduction in audit fees would lead to cash savings for audit clients, who could utilize the savings to make further investments or return excess savings to investors, all which may accrue to the benefit of investors. However, this competition effect may be limited because the audit industry is highly concentrated [ 70]

The clarification, consolidation or simplification of compliance and reporting requirements under the rule for small entities; Controls: CH1-4 Gain, 2 Band EQ, Effect Send, MIC/Line Switch, CH5-6 Gain, Master 16 Digital Effect Section with Level, Master 2 Band EQ, Master Volume, Phantom Power.PFC – Power factor correction technology ensures efficiency of the machine to offer a 30% energy saving Currently, Rule 2–01(c)(3) (the “Business Relationships Rule”) prohibits, at any point during the audit and professional engagement period, the accounting firm or any covered person from having “any direct or material indirect business relationship with an audit client, or with persons associated with the audit client in a decision-making capacity, such as an audit client's officers, directors, or For example, proposed paragraph (f)(14)(i)(B) includes the investment adviser or sponsor of an investment company under audit. As the language in neither proposed paragraph (f)(14)(i)(B) nor proposed paragraph (F) includes a materiality requirement, under proposed paragraph (f)(14)(i)(F), an auditor would need to consider as part of its independence analysis, sister investment companies that have the same investment adviser or sponsor as the investment company under audit, regardless of whether such sister investment companies are material to the shared investment adviser or sponsor. Consistent with current paragraph (f)(14)(i)(C), we continue to believe that the nature of the relationship between an investment adviser or sponsor and the investment companies it advises is such that once an investment adviser or sponsor is included within the proposed ICC definition, the investment companies it advises should be included as well. Request for Comment

The MAGNA-TIP® & SUPER SET SCREWDRIVER HANDLES by BROWNELLS #81 SOLID HANDLE is a rugged and hand-filling handle made of tough, unbreakable plastic that accepts a small wrench for added leverage. It features a powerful magnet for fast bit changes and secure bit retention with a magnetic tip and clip tip. For example, audit clients in certain industries might have more complicated or very specialized businesses, requiring auditors of those clients to possess certain expertise or experience. If the pool of potential independent auditors is restricted due to prohibitions under current Rule 2–01 that are the subject of the proposed amendments, an audit client might have to choose what it regards as a “suboptimal” audit firm, which may not provide the highest quality audit services. Since audit quality is correlated with financial reporting quality, [ 73] audit client's equity securities where the beneficial owner has significant influence over the audit client. As such, we are not able to identify those auditor-client relationships that would be impacted by the proposed amendments to the Business Relationships Rule. We therefore are not able to quantify the effects of these aspects of the proposed amendments. The proposed amendment also would help avoid the costs that audit clients could incur to switch auditors. Additionally, the proposed amendment could reduce instances of lost revenues from non-audit services ( Is further guidance needed regarding how “current basis” applies for different types of consumer loans? If so, what additional guidance should we provide?Currently, paragraphs (c)(1) through (5) of Rule 2–01 enumerate certain circumstances that, if they occur during the “audit and professional engagement period,” are inconsistent with the general independence standard of Rule 2–01(b). [ 29]