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Auditor tenure is ‘reference point,’ SEC's Bricker says

Tammy Whitehouse | May 1, 2018

Despite debates over its relevance, auditor tenures are beginning to appear in public company filings, giving investors added insight into how embedded firms are at their various public company clients.

Auditors are required to include a statement disclosing their tenure on each audit engagement in the audit report filed with financial statements beginning with 2017 year-end audits. The Public Company Accounting Oversight Board included it as one of a handful of changes to the standard audit report meant to make audit reports more informative to financial statement users.

In addition to tenures, this year’s audit reports will include new language explaining the auditor’s requirement to be independent of the...

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