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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Mandatory Rotation of Audit Firms
Hi,
Pls what are the adv. and downsides of mandatory rotation of Audit firms
Thanks and Regards
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?
Sure
You’re welcome
