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I would like to ask what is the cooling-off period for key audit partner, senior or managing partner and any other audit management team member, if there is any difference?
Do UK rules apply for the exam?
What SEC means? “The Securities and Exchange Commission”?Thank you!
It is not UK law, it is ACCA rules that are relevant to you.
For public interest entities (mainly listed companies) the rule is:
Independence would be deemed to be compromised unless, subsequent to the partner ceasing to be a key audit partner, the public interest entity had issued audited financial statements covering a period of not less than twelve months and the partner was not a member of the audit team with respect to the audit of those f inancial statements.
SEC does stand for Securities Exchange Commission.
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