The SEC’s Chief Accountant, James Kroeker, said in a recent speech that Audit Committees should enhance their auditor selection process and not rely too much on management.  Mr. Kroeker said that “while it is important to understand that the auditors and management can work together,” Audit Committees should determine whether an auditor proposal, rather than focusing on oversight, reads “more that the auditor would like to be an advocate for, or a partner with, management.”  Mr. Kroeker said that the Audit Committee should ask “tough questions” including those about “the culture at the audit firm, the results of PCAOB and internal inspections, the impact of non-audit service on auditor independence and objectivity, the audit team’s risk assessments, and the quality and sufficiency of audit evidence obtained by audit team.”