One page summery. “The PCAOB as Third-party Payer” by Michael Doron

Auditing
Name
Institution
 Auditing
The article “The PCAOB as Third-party Payer” by Michael Doron articulates the issue of third-party payers concerning the auditor-client association. Both the PCAOB, as well as the European Commission (EC) have identified the probable solution to the presumed autonomy challenge fashioned by the auditor being hired plus paid by the auditee. The author underscores the fact that the 21st-century has experienced increased government regulation in the auditing process, mainly the Sarbanes-Oxley Act of 2002 (SOX), which was created by PCAOB.  Doron believes that PCAOB needs to hire, retain, as well as compensate the auditor. This premise has been supported by empirical evidence because the concern of PCAOB hiring and retaining the auditor will reinvigorate the public confidence in the auditing process.  The author discussed the viability plus the probable challeng...