Some organizations switch auditors regularly — that can mean going to a new firm or just getting a new lead auditor — but there can be both advantages and disadvantages to this practice.
Although the Securities and Exchange Commission regulates how often public companies need to switch lead auditors, there’s no requirement for anyone else to do so. It’s individually determined by the organization.
Mark Van Benschoten recently sat down with Smart Business to discuss the pros and cons of an auditor rotation and also best practices. To read the full article, check it out on Smart Business’s website.
By Mark Van Benschoten, CPA (Dublin office)