Merely requiring companies to periodically invite bids for their audit business, or change engagement partners at the incumbent firm, doesn't do the job.
Auditors who trust their clients can feel freer to be more skeptical of their financial reporting.
A collection of CFO.com's articles and stories published on July 20, 2015
While enhanced skepticism is a key argument for requiring auditor rotation, a new report suggests that what really happens is the opposite.
A partner at L.L. Bradford failed to monitor partner assignments, leading to auditor rotation violations in six public company audits, says the PCAOB.
The case is part of the SEC’s Operation Broken Gate, designed to identify auditors who violate professional standards.
The audit watchdog's three-year pursuit of a rule to boost auditor independence has ended, says chairman James Doty.
