Washington (Nov. 24, 2003) -- Mandatory firm rotation may not be the most efficient way to strengthen auditor independence and enhance audit quality, according to a report released by the General Accounting Office.
A 98-page report from the auditor general found that the benefits of auditor rotation when weighed against “additional financial costs and the loss of institutional knowledge of the public company’s previous auditor of record, are harder to predict and quantify.”
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access