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Comment: SEC rule amendment on ‘Loan Provision’

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Grant Thornton submitted a comment letter to the SEC concerning its Proposed Rule, Auditor Independence with Respect to Certain Loans or Debtor-Creditor Relationship. Grant Thornton agrees with the SEC’s proposal to amend a rule in Regulation S-X, the “Loan Provision,” concurring that some aspects of the regulation are not working as intended. Grant Thornton believes the proposed revisions increases the effectiveness of the Loan Provision and suggests the SEC provide example scenarios to better illustrate this.