The new standard will restrict the fairly common practice of auditors providing their federal clients with consulting services, Walker said. "The inspectors general do it, GAO does it, and private sector firms also currently try to provide some kind of consulting." GAO also announced Friday that the 24 major agencies covered under the 1990 Chief Financial Officers Act must form audit committees, but officials are still hammering out the details of that mandate. "The scope, structure and timing of this new requirement will be determined over the next several months," GAO said in a statement.
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