PCAOB Head Says Auditor Rotation Rule Is Work In Progress

Law360, New York (March 28, 2012, 1:21 PM EDT) -- The head of the Public Company Accounting Oversight Board on Wednesday told a congressional panel that the agency has not decided whether to require companies to rotate their auditors, but he vowed to do an appropriate cost-benefit analysis if the rule moves forward.

James R. Doty, the PCAOB's chairman, told members of the House Financial Services Committee's Subcommittee on Capital Markets and Government Sponsored Enterprises that while mandatory auditor rotation was part of a concept release intended to increase audit quality and skepticism, he had not...
To view the full article, register now.