Term Papers on Mandatory Rotation Of Auditors from Term Papers Lab.
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Abstract
In light of a number of high-profile corporate failures during the first half of 2001, a number of studies have been performed to address the impact of mandatory rotation of audit firms to ensure the appropriate level of independence' of auditors. Majority of studies conclude that the detrimental effects of firm rotation on the quality of the audit work by far outweigh its positive effects as a safeguard against various independence and quality threats.
Frequent changes of audit firms, whether resulting from mandatory rotation or otherwise, introduce threats to independence and operational difficulties that make audit failure more likely. Many studies have involved practitioners' opinions on this issue, which have been based on their experiences and is therefore necessarily more subjective than from impartial, third party studies. There are differing opinions, as some audit firms wish to preserve the client bases, while others welcome more market volatility.......
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Title: Mandatory Rotation Of Auditors
Approximate Word Count: 2343
Approximate Pages: 10 (250 words per double-spaced page)
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Mandatory Rotation Of Auditors
MANDATORY ROTATION OF AUDITORS. Abstract In light of a number of high-profile
corporate failures during the first half of 2001, a ... ... -
Enron
... of more drastic measures, such as a proposal for mandatory rotation of entire ... Auditors
must communicate to the audit committee all "critical accounting policies ... ... -
Sox
... Section 201: Services Outside The Scope Of Practice Of Auditors; Prohibited Activities. ...
Section 207: Study of Mandatory Rotation of Registered Public ... ... -
The Future Directions Of The Auditing Profession
... would be to extend the legislation to require mandatory audit-firm rotation after
the five ... A SEC lawsuit against three Arthur Anderson auditors for fraud ... ... -
Sarbanese - Oxley Act Of 2002
... Services outside the scope of practice of auditors. Sec. ... Audit partner rotation.
Sec. ... 207. Study of mandatory rotation of registered public accounting firms. ... ...
