Alright, you guys. Next time you have an encounter like this one that Adam Blitz […]
Tag: skepticism
PCAOB Member Jay Hanson Repeats His Belief That Auditor Rotation Is Not Gonna Happen
The Brits can do whatever they want; Mr. Hanson has a story and he's sticking to […]
PCAOB Member Jay Hanson Can’t Imagine a World with Auditor Rotation
On Monday, PCAOB Chairman James Doty gave a speech where he mentioned, among other things, […]
Georgia Accountant’s Instincts Prove Useful in the Wild
When someone of the debit and credit arts is functioning in its natural habitat (e.g. […]
A Friendly Reminder for Auditors: Be Skeptical
If you're an opiner who has been suffering from massive memory loss or ignoring your […]
At Least One McGladrey Employee Is Skeptical of the Motives Behind the Firm Giving Everyone iPads
This just in from a tipster (confirming a Tweet that was pointed out to us) […]
Who Has Thoughts on Mandatory Auditor Rotation?
Because the PCAOB is giving you until December 14th to make your views known.
“One cannot talk about audit quality without discussing independence, skepticism and objectivity. Any serious discussion of these qualities must take into account the fundamental conflict of the audit client paying the auditor,” said PCAOB Chairman James R. Doty.
“The reason to consider auditor term limits is that they may reduce the pressure auditors face to develop and protect long-term client relationships to the detriment of investors and our capital markets,” Chairman Doty added.
Don’t fret anti-rotaters, the Board did invite everyone to weigh in on the idea that they “should consider a rotation requirement only for audit tenures of more than 10 years or only for the largest issuer audits.”
[PCAOB]