StudentShare solutions
Triangle menu
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Mandatory external rotation of accountantsoffices - Essay Example

Nobody downloaded yet
In the U.S., the Securities and Exchange Commission is responsible for spelling out audit requirements. The SEC is more focused on internal audit as compared to external mandatory rotation of audit firms. Financial accounting reporting and auditing have been the key areas affected by the European crisis. In an attempt to resolve the predicament, both Europe and the U.S. have tried to come up with rotation. Rotation has been viewed as a solution to mitigate the threats associated with financial independence generated by developed nations (Mihaela et al., 2010). At a time when the world is facing a crisis new audit policy has to be a crucial factor in avoiding losses. Auditors usually find themselves in a fix due to the fact of being familiar with the management and being intimidated by their clients, which adversely leads to long-term client-audit relationship. Over the recent years, the subject of long-term audit and client relationship has raised eyebrows within public and social realms. Mandatory external rotation of accountants’ offices is believed to increase auditor independence and quality of audit and financial reporting (Velte & Stiglbauer, 2012). On the other hand, external auditing increases the cost of auditing in the first two years. This is because the risk of liability from auditors is significantly high in the first two years than within subsequent years. Due to the audit concentration of the four big companies, external mandatory rotation is almost not realized. The big four has a command on the number of companies they audit each year. In addition, the big four has vast experience in consultancy and have advisory services to attest to it. Therefore, this makes it hard for small and mid-sized accounting firms, which are looking forward to enter into a new market (Velte & Stiglbauer, 2012). In other cases, there have been arguments on the quality of auditing in ...Show more
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Mandatory external rotation of accountantsoffices Essay”, n.d.)
Retrieved from https://studentshare.net/finance-accounting/519120-mandatory-external-rotation-of-accountantsoffices
(Mandatory External Rotation of Accountantsoffices Essay)
https://studentshare.net/finance-accounting/519120-mandatory-external-rotation-of-accountantsoffices.
“Mandatory External Rotation of Accountantsoffices Essay”, n.d. https://studentshare.net/finance-accounting/519120-mandatory-external-rotation-of-accountantsoffices.
  • Cited: 0 times

Summary

In the aftermath of When European financial crisis was over the European commission issued the Green paper as the aftermath of the crisis in order to analyze what happened and how to avoid the same kind of problems in future. The Green paper had to demonstrate that European…
Mandatory external rotation of accountantsoffices
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Mandatory external rotation of accountantsoffices"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Mandatory Vs. Voluntary Vaccincations
Although the intention of the creators of a vaccine is simple and pure, that of preventing debilitating and life threatening illnesses amongst our children, there is a debate raging on between parents and pediatric professionals pertaining to the benefits of mandatory and voluntary vaccinations.
3 pages (750 words) Essay
Experiences of Morrison concerts
What I really enjoyed about these concerts was the overall experience of being there. There is something about going into the auditorium and seeing the musicians warming up, then hearing them carefully playing the music that is simply magic. Even the other people in the auditorium who were coughing and making noises didn't take away from the experience of being there.
3 pages (750 words) Assignment
Mandatory Voting
Miller argues that he "doesn't want some idiot who doesn't know anything about the issue deciding who will be president or whether to raise my taxes"; rather he has confidence in the mature and intelligent people who turn out to vote. Miller claims "to change that would be a recipe for disaster." In my opinion, Miller is correct in his assessment of the present state of affairs working well as is and that lowering the voting age would not be beneficial; however changes in our current voting laws to offer an incentive could be implemented to make them more effective.
4 pages (1000 words) Essay
Mandatory vaccinations
However, growing evidence suggests that the practice may actually cause health problems, as well as the realization that there is denial of the right to informed consent. An increasing number of concerned individuals and parents have
3 pages (750 words) Essay
Mandatory Minimum Sentencing Guidelines
One of the areas of criminal justice that has remained controversial is on how sentencing judges exercise discretion. This has led to introduction of various legislative prescriptions to guide judges while exercising sentence discretion. In
3 pages (750 words) Essay
Pre-rotation assigment
The school has a school nurse, and health education programs for every grade, that is grade 6 and 7. Health status of the children in this school depends on what is in the education program, how well the objectives of the education programs are implemented by the
1 pages (250 words) Essay
Rotation
Consequently, Ms. T went over some useful x-ray images, which we used to see at the clinic. This involved going over all the technical error and
1 pages (250 words) Essay
Assistant rotation
However, the main challenge in this occasion included how to put fluoride on the children’s teeth without complicating problem. I got at the elementary school at 7:50, which was too early. First, The Head Start assistants and coordinator
1 pages (250 words) Essay
Office rotation
At the time, I was able to observe and assist the first hygienist. The hygienists used two set of instruments; these can be classified as basic and scalar instruments. The significant aspect of the scalar set was the fact that it only had three instruments.
2 pages (500 words) Essay
Mandatory Volunteerism
They also get the opportunity to come up with new skills and experience the pleasure resulting from the activities concerned with impacting positively on other people’s lives, as well as the volunteers’ lives. Volunteering can similarly be said to be an
3 pages (750 words) Essay
Comments (0)
Click to create a comment
Let us find you another Essay on topic Mandatory external rotation of accountantsoffices for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us