IRS drops audit firm rotation from governance practices document on its Web site.

The Internal Revenue Service's Exempt Organizations Division had posted on its Web site a controversial document setting forth the Service's view on what constitutes good governance practices for tax-exempt entities. Included in the document was the suggestion that audit firms be rotated on a regular basis, say, every five years. Almost from the day the item was posted on the IRS Web site, the Institute protested, in face-to-lace meetings and in writing...