The Public Company Accounting Oversight Board plans to hold a series of meetings to discuss a proposal to require mandatory audit firm rotation, according to PCAOB chairman James Doty.
The PCAOB issued a concept release last August proposing that companies be required to change their audit firms after a certain number of years. The initial set of meetings has been scheduled to take place on March 21 and 22. So far, the PCAOB has received over 600 comment letters on the proposal, many of them taking issue with the requirement (see Audit Firm Rotation Panned in PCAOB Comments).
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