"Modernizing" Auditor Independence, Part 2

The SEC sanctions PwC for a batch of independence violations it says were primarily caused by one partner!

In Part 1 yesterday, Barbara Roper of the Consumer Federation told us:

“If audit firms aren’t willing to maintain their independence, and regulators aren’t willing to hold them accountable, at a certain point investors are going to start asking whether it is really worth paying for the not-so-independent audit.”

That is arguably already true in some quart…