Auditor tenure and rotation
نویسنده
چکیده
There has been a long-standing debate as to the relative merits of mandatory auditor rotation. In the United States (US), Section 203 of the Sarbanes-Oxley Act (2002) (SOX) requires rotation of the lead engagement partner and the concurring review partner at least once every five years. Section 207 also requires a study on the potential effects of mandatory audit firm rotation. After conducting the study, the General Accounting Office (GAO, 2003: 2) concluded that:
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