Public boards oppose mandatory audit rotation

Oct 04, 2012
Most board members (68%) are opposed to proposals by U.S. and international regulators to implement mandatory rotation of the external audit relationship, according to a new study by BDO USA, LLP.
 
Moreover, of those opposed to rotation, better than three-quarters (78%) are also opposed to mandatory tendering of the external audit.
 
Although the vast majority (88%) of directors indicate they are comfortable with their ability to stay current on changes to accounting and financial reporting standards, more than two-thirds (70%) think there are so many financial disclosures in financial statements today that it is difficult to decide what information is most important.
 
Read the full survey results