The Professional Ethics Executive Committee (PEEC) has agreed that it will not take enforcement action against a member who is a member of a group engagement team in cases where a foreign component auditor involved in the group audit is not in compliance with the AICPA Code of Professional Conduct
Source: http://feedproxy.google.com/~r/AICPA_ProfessionalEthics/~3/LEFYSaH99ME/Non-Enfor.aspx
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