Will the call for mandatory audit firm rotation be renewed?

Cooley PubCo, 5/22/2018

Starting in 2018, new rules required disclosure of auditor tenure in audit reports. (See this PubCo post.) And, for some companies, those tenures can stretch over a century. For example, KPMG reported that it has audited GE since 1909. (See this PubCo post.) According to this press release from the American Accounting Association,  for “the first 21 companies of the Dow 30 to release their reports this year, the average auditor tenure is 66 years.”

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2019-03-05T09:40:13+01:00