Regulators are poised to require that accounting firms identify exactly who is in charge of each audit they perform at thousands of publicly traded companies, but just where that disclosure will happen is still up for debate, the Wall Street Journal reported today. The Public Company Accounting Oversight Board (PCAOB), the government's audit regulator, expects to give final approval in the next few weeks to a long-awaited rule that will mandate accounting firms disclose the name of their lead "engagement partner," their partner in charge, on each public-company audit they perform each year. The move is aimed at increasing accountability for auditors and giving more information to investors. PCAOB Chairman James Doty wants the name disclosed in the audited company's annual report, also known as the 10-K, in the section in which the auditor's opinion appears. But big accounting firms are pushing for disclosure in a different location: a separate report the auditing firms file with the PCAOB, known as a Form 2.
