Getting a fresh face to compile your audit report shouldn’t be a big deal.
So say many voices in the auditing community, which is starting to bump against the Sarbanes-Oxley requirement that the lead partner on an external audit team be rotated off a client engagement every five years. Most accounting firms have plenty of qualified partners who can step in as the new lead auditor for a company. And the rule seems to make sense; it protects against conflicts of interest and the loss of sound judgment that might occur over time.
