European Commission proposes mandatory audit firm rotation, separation of audit/consulting services
The European Commission today proposed what would be sweeping changes to audit regulation, though the proposals were scaled back from what European Internal Market Commissioner Michel Barnier had reportedly favored. The EC recommended changes that include audit firm rotation every six years. Large audit firms would have to separate audit activities from non-audit activities.
The European Commission today proposed what would be sweeping changes to audit regulation, though the proposals were scaled back from what European Internal Market Commissioner Michel Barnier had reportedly favored. The EC recommended changes that include audit firm rotation every six years. Large audit firms would have to separate audit activities from non-audit activities.
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