期刊名称：Ovidius University Annals: Economic Sciences Series
电子版ISSN：2393-3127
出版年度：2009
卷号：9
期号：1
语种：English
出版社：Ovidius University Press
摘要：The major financial reporting failures at Enron and WorldCom,as well as apparent failures at Qwest,Tyco,Adelphia,and others,led to the financial reporting reforms contained in the Sarbanes-Oxley Act of 2002 (SOA). SOA’s reforms directly related to auditors include the establishment of the Public Company Accounting Oversight Board (PCAOB),increased audit committee responsibilities,and mandatory rotation of lead and reviewing audit partners after five consecutive years on an engagement. In addition,regulators and the business press have shown interest in considering whether long-term relationships between companies and their auditors create a level of closeness that impairs auditor independence and reduces audit quality. Questions have arisen about whether SOA’s requirement to simply rotate personnel - the lead and review partners - within the same audit firm is adequate.
