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Hi tutor,
I have a question about the rotation of audit partners on a listed client. The Kaplan notes say that it must be done within 7 years but I have seen in exam questions that 5 years have been quoted. Which is The correct answer?
The ACCA rule book states:
290.149 In respect of an audit of a public interest entity, an individual shall not be a key
audit partner for more than seven years.This is in line with the IESBA Code of Ethics.
If you are looking at old questions, they probably say 5 years because the limit used to be that. Answers are not updated for changes of rules.
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