Professor Elam

Monday Oct 19 2020

Page B 5 of today's WSJ

The U.S. Securities and Exchange Commission adopted changes that relax some conflict-of-interest rules for companies and audit firms, making it easier for them to avoid violating auditor independence in certain situations.

But honestly I am not sure what this means.

the article says it gives auditors more discretion in assessing conflicts of interest. 

Two SEC commissioners disagreed arguing it would inject moe opportunity for uncertainty and error.

Positive mood results in a  loosening of accounting restrictions near market tops. That appears to be the case here.