Mandatory audit firm rotation: a critical composition of practitioner views from an emerging economy

What is it about?

The audit function is losing credibility in the mind of the public. Part of the problem is skepticism concerning the independence of the auditors from company management. Forcing audit firms to rotate periodically is a commonly suggested potential solution and has been adopted by some countries internationally. We find that experienced practitioners do not believe that this is the best solution to the problem and that there will likely be considerable unintended consequences. Alternative solutions should be explored.

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