Whistleblower Provisions Regulation - Comment Letter - Center for Audit Quality - December 23, 2010

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Gavel.png FINAL RULE: This page refers to the proposed rulemaking on whistleblower provisions. The CFTC final rule was issued at its August 4, 2011 open meeting. The SEC final rule was issued at its May 25, 2011 open meeting.
Dodd-Frank Timeline, Whistleblower Provisions, CFTC
Final Rule Issue Effective Date Proposed Amendment
August 4, 2011 October 24, 2011 August 30, 2016

SEC Whistleblower Provisions
December 23, 2010

In the letter, comments fall under the following categories:

  • "Importance of requiring, at a minimum, concurrent whistleblower reporting to the Commission and the company as a condition to a whistleblower award;" and
  • "Recommendations to clarify and expand exclusion of independent public accountants from whistleblower awards."

Specifically, "The CAQ believes that permitting awards to independent public accountants for such information in either scenario above would undermine a certified public accountant’s (CPA) duties of confidentiality and integrity and other ethical obligations, as well as undermine the candor among independent public accountants, the company and the audit committee."

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