The Public Company Accounting Oversight Board heard testimony from a series of high-profile auditing experts on the advantages and disadvantages of requiring companies to rotate their auditing firms on a regular basis.

The testimony came in response to a concept release that the PCAOB proposed last year on the controversial matter of mandatory audit firm rotation. On the first day of the two-day hearing, the PCAOB heard from former Federal Reserve Chairman Paul Volcker, along with several former chairmen of the Securities and Exchange Commission—Arthur Levitt, Harvey Pitt and Richard Breeden—and the heads of the five largest auditing firms.

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

Don't have an account? Register for Free Unlimited Access