EU considers auditor rotation rule, following Sarbanes-Oxley example.

• Position: International

The European Union (EU) is considering rules that would require publicly listed companies to rotate auditors every seven years or to change the senior partner in charge of the audit every five years. The rotation is part of the EU's effort to keep close ties from forming between company officials and their auditors.

Similar to the U.S. rules put forth in the Sarbanes-Oxley Act, the EU is also considering requiring all non-EU auditors to register...