A group of high-ranking officials in accounting and auditing standard-setting organizations discussed the changing standards for mandatory audit firm rotation, private company accounting and other controversial issues at the American Institute of CPAs’ Spring Meeting of Council.

The conference marked the 125th anniversary of the Institute (see AICPA Celebrates 125th Anniversary). Public Company Accounting Oversight Board chairman James Doty spoke Thursday about the history of the accounting profession in the United States and paid tribute to the Institute, which its predecessor organization, the American Association of Public Accountants, established in 1887.

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