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SEC更新審計師獨立規則（中文翻譯僅供參考，後附英文原文為準）

https://www.sec.gov/news/press-release/2020-261

修訂反映了專業人員在採用審計師獨立框架方面的經驗

即刻發佈2020-261

華盛頓特區，2020年10月16日

證券交易委員會今天宣布，它已對SX法規第2-01條中的某些審計師獨立性要求進行了最終修訂。在採用審計師獨立框架數十年的員工經驗的基礎上，最終修訂對規則進行了現代化，使分析更加有效地集中於可能對審計師的客觀性和公正性構成威脅的關係和服務。  

最終修訂反映了根據委員會工作人員經過多年協商發現的反覆出現的事實模式所做的更新，在這種情況下，某些關係和服務觸發了違反技術獨立性規則的行為，而並不一定損害審計師的客觀性和公正性。這些關係要麼觸發了違反非實質性規則的行為，要麼要求審計委員會對非實質性事項進行可能耗時的審核，從而使審計客戶，審計師和審計委員會的時間，精力和其他資源從其他投資者保護工作中轉移出來。最終修訂產生了審計師獨立性要求，這些要求將用於評估特定的關係和服務，重點是保護投資者免受對審計師客觀性和公正性的威脅。

主席傑伊·克萊頓說：「今天的修正案反映了委員會長期以來公認的觀點，即由客觀，公正和熟練的專業人士進行的審計有助於保護投資者和增強投資者的信心。」 「現代化的審計師獨立性要求將使審計客戶，審計委員會和審計師集中於可能威脅到審計師的客觀性和公正性的領域，從而增強對投資者的保護。他們還將通過增加發行人可以選擇的合格審計公司的數量來改善競爭和審計質量。」

***

事實說明書
對規則2-01的修訂
，2020年10月16日會計師資格

自2000年首次採用當前的獨立性要求和2003年通過修訂以來，委員會及其工作人員在不斷變化的資本市場條件下，繼續了解審計師獨立性要求的應用，效率和有效性。此外，在2018年5月發佈的《關於某些貸款或債權人/債務人關係的審計師獨立性的提議稿》中，委員會徵求了對獨立性要求進行其他修訂的建議。2019年12月，委員會發佈了《規則2-01修正案提案稿》。最終修正案響應了資本市場條件的最新變化，反映了委員會工作人員在管理獨立性方面的經驗，並結合了近期和長期的反饋意見。

着眼於風險，以審計公司的客觀性和公正性

最終修訂旨在將我們的審計師獨立性規則的重點放在關係和服務上，這些關係和服務更可能損害審計師的客觀性和公正性。以下示例部分基於SEC人員的諮詢經驗，有助於舉例說明當前修正案所涉及的先前規則中的一些擔憂。

示例1 –學生貸款

審計事務所在亞特蘭大有一個審計合伙人，在她開始在審計事務所工作之前，她繼續償還她上大學的學生貸款。亞特蘭大的另一位審計合作夥伴對提供學生貸款的貸方進行審計，這是一家大型學生貸款公司，可提供數千筆學生貸款。 

根據今天的修訂之前的規則，不屬於審計一部分的審計合作夥伴的學生貸款，仍將導致放款人的審計業務受到侵犯。根據修訂後的規則，該學生貸款將不再導致出借人的審計業務違反獨立性。 

示例2 –投資組合公司

假設X公司是一家總部位於美國的基金F的投資組合公司。基金F在全球範圍內投資了數十家甚至數百家公司，其中包括X公司。公司A的全球網絡分支機構向基金F的兩個單獨的投資組合公司Y公司和Z公司提供以下討論的服務。進一步假設公司Y和Z公司與彼此或X公司沒有關係，但事實是基金F投資於每個公司。為了增加實際的背景，進一步假設：

1. 澳大利亞審計公司A的一家澳大利亞關聯公司在短時間內為滿足資源需求的Y公司（一家位於澳大利亞的醫療保健投資公司）提供了有限的人員配置服務。
2. 審計公司A的西班牙分支機構在短時間內為總部位於西班牙的住宿（酒店連鎖）投資公司Z公司提供工資服務。
3. X公司擁有自己獨立的治理結構，與Y公司或Z公司無關，而Y公司和Z公司對基金F並不重要。

根據今天的修訂之前的審計師獨立性規則，如果X公司在SEC進行註冊（例如，通過進行首次公開募股），則由於向Y公司或Y公司提供的服務，審計公司A將不獨立於X公司。Z。無論是像SEC員工在類似情況下觀察到的那樣，對於非實質性投資組合公司（例如Y和Z公司）提供的有限服務，無論以何種方式都不會對被審計實體產生任何影響，也不會影響Z.審核員對X公司進行審核的客觀性和公正性。 

根據今天的修訂之前的規則，X公司將被要求：（1）用另一家審計公司代替審計公司A；（2）在終止向Y公司和Z公司提供的服務後，等待長達三年的SEC登記；（3）可能要與委員會工作人員和/或審核委員會協商，確定違反規則並不會損害審核員的客觀性和公正性。 

在某些情況下，無法替換現有的審計公司，因為所有其他合格的審計公司本身都已提供服務或與F基金的投資組合公司建立了其他關係，從而違反了我們的獨立性規則。通過該示例可以理解影響審計師選擇的獨立性規則集的問題，並且隨着資產管理行業的發展，投資變得更加全球化以及全球審計服務生態系統已經整合併變得更加專業化，該問題顯着增加。 

根據修改後的規則，X公司將能夠聘請審計公司A提供審計服務。上述假設情景直接基於SEC員工在過去十年中的經驗。近年來，SEC工作人員進行了多次磋商，在這種情況下，註冊人的審計委員會及其審核員向SEC工作人員提出了這種事實模式或類似的事實，而在這種情況下，SEC工作人員並未這樣做。反對審計師和審計委員會的結論，即審計師的客觀性和公正性不會受到損害。在過去的十年中，SEC員工針對這些類型的場景提供了類似的反饋。修訂後的規則將減輕註冊人審核委員會及其審核員在這種情況下尋求SEC員工指導的需求。

強調 

最終修訂將：

• 修改規則2-01（f）（4）中的「審計客戶的會員關係」和規則2-01（f）（14）中的「投資公司綜合體」的定義，以解決某些會員關係，包括共同控制下的實體；
• 修改「審計和職業參與期」的定義，特別是細則2-01（f）（5）（iii），以縮短回溯期，以便國內首次申報者評估對獨立性要求的遵守情況；
• 修改規則2-01（c）（1）（ii）（A）（1）和（E），以將某些學生貸款和最低限度的消費貸款添加到從損害獨立性的貸款關係中排除的類別中；
• 修改規則2-01（c）（3），以具有重大影響的實益擁有人的概念替換業務關係規則中對「主要股東」的引用；
• 用新的規則2-01（e）替換規則2-01（e）中過時的過渡條款，以引入過渡框架，以解決僅由於合併或收購交易而引起的無意中違反獨立性的行為；和
• 進行其他一些其他更新。

下一步是什麼？

修正案將在《聯邦公報》上發佈180天後生效。如果最終修訂是從早期遵從之日起全面適用的，則在生效日期之前將修正案在聯邦公報中發佈後，便可以自願進行早期遵從。如果審計公司選擇了審計師，則不允許審計師對生效日期或早期合規日期之前存在的關係和服務追溯適用最終修訂。 

SEC Updates Auditor Independence Rules

Amendments Reflect Staff Experience Applying the Auditor Independence Framework

FOR IMMEDIATE RELEASE
2020-261

Washington D.C., Oct. 16, 2020 

The Securities and Exchange Commission today announced that it adopted final amendments to certain auditor independence requirements in Rule 2-01 of Regulation S-X.  Informed by decades of staff experience applying the auditor independence framework, the final amendments modernize the rules and more effectively focus the analysis on relationships and services that may pose threats to an auditor』s objectivity and impartiality.  

The final amendments reflect updates based on recurring fact patterns that the Commission staff has observed over years of consultations in which certain relationships and services triggered technical independence rule violations without necessarily impairing an auditor』s objectivity and impartiality.  These relationships either triggered non-substantive rule breaches or required potentially time-consuming audit committee review of non-substantive matters, thereby diverting time, attention, and other resources of audit clients, auditors, and audit committees from other investor protection efforts. The final amendments result in auditor independence requirements that will be used to evaluate specific relationships and services, with a focus on protecting investors against threats to the objectivity and impartiality of auditors.

「Today』s amendments reflect the Commission』s long-recognized view that an audit by an objective, impartial, and skilled professional contributes to both investor protection and investor confidence,」 said Chairman Jay Clayton.  「These modernized auditor independence requirements will increase investor protection by focusing audit clients, audit committees, and auditors on areas that may threaten an auditor』s objectivity and impartiality.  They also will improve competition and audit quality by increasing the number of qualified audit firms from which an issuer can choose.」

***

FACT SHEET
Amendments to Rule 2-01, Qualification of Accountants
October 16, 2020

Since the initial adoption of the current independence requirements in 2000 and amendments adopted in 2003, the Commission and its staff have continued to learn about the application, efficiency, and effectiveness of auditor independence requirements amidst changing capital market conditions.  Additionally, in the May 2018 Proposing Release for Auditor Independence with Respect to Certain Loans or Creditor/Debtor Relationships, the Commission solicited suggestions for other revisions to the independence requirements.  In December 2019, the Commission issued the Proposing Release for Amendments to Rule 2-01.  The final amendments respond to recent changes in capital market conditions, reflect the Commission staff』s experience administering the independence requirements, and incorporate both recent and long-term feedback.

Focusing on Risks to Audit Firm Objectivity and Impartiality

The final amendments seek to focus our auditor independence rules on relationships and services that are more likely to jeopardize the objectivity and impartiality of auditors.  The following examples, based, in part, on the SEC staff』s consultation experience, help to illustrate some of the concerns with the prior rules that today』s amendments address.

Example 1 – Student Loans

Audit Firm has an audit partner based in Atlanta who continues to pay her student loans taken to attend college before starting her career at Audit Firm.  A different audit partner in Atlanta audits the lender that provided the student loan, a large student loan company that originates thousands of student loans. 

Under the rules prior to today』s amendments, the student loan of the audit partner who is not part of the audit would still lead to an independence violation for the audit engagement of the lender.  Under the amended rules, that student loan would no longer result in an independence violation for the audit engagement of the lender. 

Example 2 – Portfolio Companies

Assume Company X is a U.S.-based portfolio company of Fund F.  Fund F invests in various companies around the globe, perhaps dozens or even hundreds, including Company X.  Audit Firm A is the auditor of Company X.  Also assume that two of Audit Firm A』s global network affiliates provide the services discussed below to two separate portfolio companies of Fund F, Company Y and Company Z.  Further assume that Company Y and Company Z have no relation to each other or to Company X except for the fact that Fund F is invested in each Company.  To add practical context, further assume that:

1. An Australian affiliate of Audit Firm A provides limited staffing services to Company Y –– a healthcare portfolio company based in Australia –– for a short-period of time to meet a resource need.
2. A Spanish affiliate of Audit Firm A provides payroll services to Company Z – a lodging (hotel chain) portfolio company based in Spain – for a short-period of time.
3. Company X has its own separate governance structure that is unrelated to Company Y or Z, and Company Y and Z are not material to Fund F.  

Under the auditor independence rules prior to today』s amendments, if Company X registers with the SEC (e.g., by conducting an initial public offering), Audit Firm A would not be independent of Company X as a result of the services provided to either Company Y or Z.  This is the case regardless of whether, as the SEC staff has observed in similar situations, these limited services at immaterial portfolio companies (like Companies Y and Z) have no impact on the entity under audit in any way and do not affect the objectivity and impartiality of the auditor in conducting the audit for Company X. 

Under the rules prior to today』s amendments, Company X would be required: (1) to replace Audit Firm A with another audit firm; (2) to wait to register with the SEC for up to three years after termination of the services provided to Company Y and Company Z; or (3) to make a determination, likely in consultation with Commission staff and/or the audit committee, that the rule violation did not impair the auditor』s objectivity and impartiality. 

In some situations, the existing audit firm cannot be replaced as a practical matter because all other qualified audit firms have themselves provided services or established other relationships with portfolio companies of Fund F that triggered a breach of our independence rules.  The issue of the independence rule set affecting auditor choice is brought home by this example and has increased significantly as the asset management industry has grown, investments have become more global and the global audit services ecosystem has consolidated and become more specialized. 

Under the rules as amended, Company X would be able to engage Audit Firm A for audit services.  The hypothetical scenario described above is based directly on SEC staff』s experience over the past decade.  In recent years, the SEC staff conducted a number of consultations in which this fact pattern, or one similar to it, was raised to the SEC staff by the registrant』s audit committee and its auditor, and the SEC staff, under such circumstances, did not object to the auditor』s and the audit committee』s conclusion that the auditor』s objectivity and impartiality would not be impaired.  SEC staff has provided similar feedback in these types of scenarios over the past decade.  The amended rules would mitigate the need for registrants audit committees and their auditors to seek SEC staff guidance in these scenarios.

Highlights 

The final amendments will:

• Amend the definitions of 「affiliate of the audit client,」 in Rule 2-01(f)(4), and 「investment company complex,」 in Rule 2-01(f)(14), to address certain affiliate relationships, including entities under common control;
• Amend the definition of 「audit and professional engagement period,」 specifically Rule 2-01(f)(5)(iii), to shorten the look-back period, for domestic first time filers in assessing compliance with the independence requirements;
• Amend Rule 2-01(c)(1)(ii)(A)(1) and (E) to add certain student loans and de minimis consumer loans to the categorical exclusions from independence-impairing lending relationships;
• Amend Rule 2-01(c)(3) to replace the reference to 「substantial stockholders」 in the business relationships rule with the concept of beneficial owners with significant influence;
• Replace the outdated transition provision in Rule 2-01(e) with a new Rule 2-01(e) to introduce a transition framework to address inadvertent independence violations that only arise as a result of a merger or acquisition transactions; and
• Make certain other miscellaneous updates.

What』s Next?

The amendments will be effective 180 days after publication in the Federal Register.  Voluntary early compliance is permitted after the amendments are published in the Federal Register in advance of the effective date provided that the final amendments are applied in their entirety from the date of early compliance.  Auditors are not permitted to retroactively apply the final amendments to relationships and services in existence prior to the effective date or the early compliance date if selected by an audit firm. 

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