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Mandatory Rotation of Audit Firms

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Mandatory Rotation of Audit Firms

  • This topic has 3 replies, 2 voices, and was last updated 11 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • June 1, 2014 at 10:52 am #172309
    abed4219
    Member
    • Topics: 2
    • Replies: 12
    • ☆

    Hi,

    Pls what are the adv. and downsides of mandatory rotation of Audit firms

    Thanks and Regards

    June 1, 2014 at 5:54 pm #172418
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23352
    • ☆☆☆☆☆

    Advantages – reduces familiarity, increases objectivity, improves competition, brings fresh eyes

    Disadvantages – cost, learning curve, inefficiency of first (and possibly second) audit, repetition of same old questions but by different people, not familiar with sensitive areas deserving of special attention

    Enough?

    June 2, 2014 at 8:17 am #172544
    abed4219
    Member
    • Topics: 2
    • Replies: 12
    • ☆

    Sure

    June 2, 2014 at 5:12 pm #172861
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23352
    • ☆☆☆☆☆

    You’re welcome

  • Author
    Posts
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