In a recent survey of public companies assessing views on Sarbanes-Oxley a decade after its adoption, Protiviti also asked companies what they think of the PCAOB's recent suggestions that mandatory rotation might improve auditing. Nearly half of all survey respondents agreed that rotation would have a positive impact. Among large accelerated filers, Protiviti said 47 percent of companies were in favor of rotation, and 60 percent of nonaccelerated filers agreed with the idea as well. Even Protiviti was taken back by the numbers. “These results are somewhat surprising as it can be expensive and time consuming to change external auditors, and such an action would represent a very substantial change in the external auditor arrangements for companies,” the firm noted in its report. “Further, the limited number of global network accounting firms significantly restricts rotation options." [CW, Earlier]
Related Posts
Comp Watch ’16: PCAOB
- Caleb Newquist
- March 14, 2016
PCAOB Chairman James Doty had the pleasure of presenting a budget to the SEC today […]
Share this:
PCAOB Chair Williams Reminds Us For the 1,000th Time She Is Sick of Auditors’ Bullsh*t
- Adrienne Gonzalez
- December 13, 2022
Another day, another scathing speech from PCAOB Chair Erica Williams. Today it’s from prepared remarks […]
Share this:
The PCAOB Is Looking For a Few Good SAGs
- Adrienne Gonzalez
- May 1, 2014
Full press release is below as we don't care enough about this to spend an […]