Public Accounting Firms: Required Study on the Potential Effects of Mandatory Audit Firm Rotation

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Our Price: $25.00

Year: 2003
Pages: 91
Binding Paperback

Product Code: 0756739683

Description

Jeanette M . Franzel (au). Following major failures in corp. financial reporting, the Sarbanes-Oxley Act of 2002 was enacted to protect investors through requirements intended to improve the accuracy & reliability of corp. disclosures & to restore investor confidence. The act strengthened auditor independence & improved audit quality. Mandatory audit firm rotation (setting a limit on the period of years a public accounting (PA) firm may audit a particular company’s financial statements) was considered as a reform to enhance auditor independence & audit quality during the hearings that preceded the act, but it was not included in the act. This report studies the potential effects of requiring rotation of the PA firms that audit public companies registered with the SEC.

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