Can auditors trust clients and be skeptical too?

• Position: FTB news

Could the concerns about mandatory rotations of audit firms or engagement partners be unwarranted?

Mandatory auditor rotation is rooted in the belief that auditors and clients should avoid the buildup of a trusting relationship lest it compromise the professional skepticism so necessary for audits.

While there are mandatory rotation requirements for audit engagement partners in the United States, no such rules exist for mandatory rotation of audit firms.

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