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SOX requires rotation of audit partners every 5 years. Is t

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SOX requires rotation of audit partners every 5 years. Is that enough?

I think one piece of SOX that was important to the issue of independence was the rule that audit partners must be rotated every 5 years. That means a new partner is coming in every 5 years with a fresh set of eyes and perhaps a little different way of doing things. Any "relationships" that may have formed with the client can easily be dissolved. Why do you think the regulation requires the rotation every 5 years? Do you think that is often enough? Should it be limited to the audit partner or should the whole team be rotated? Or, perhaps, should the company be forced to change audit firms every 5 years?

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SOX requires rotation of audit partners every 5 years. Is that enough?

I don't think that the client should have to change audit firms, but I completely agree with the regulation that forces audit firms to rotate auditors every five years. In my opinion, the entire team should be rotated, and not just the audit partner. One of the principal reasons that audit firms must change the audit partner is due to ...

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SOX requires rotation of audit partners every 5 years. Is that enough?

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SOX: Accuracy of Financial Statements

The Sarbanes-Oxley Act (SOX) signed into law in July 2002 was intended to improve the accuracy of the financial statements prepared by publicly held companies. Carefully read the summary of this Act.

QUESTION: If you believe that legislation can guarantee the accuracy of public company financial statements, explain why previous laws have failed. If you believe that the reverse is true, please explain why CEOs and CFOs are paying so much attention to this law.

The response should be about 3 pages (double spaced, font size 12, times new roman)

Helpful information provided as attachments.

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