"Mandatory auditor rotation is designed to address a potential conflict of interest between a public company and its auditor. Because an auditor is hired and paid by the public company it audits, the auditor's desire to maintain a good relationship with its client could conflict with its duty to rigorously question the client's financial statements.“


-Robert Pozen

posted in relationship


Mandatory auditor rotation is designed to address a potential conflict of interest between a public company and its auditor. Because an auditor is hired and paid by the public company it audits, the auditor's desire to maintain a good relationship with its client could conflict with its duty to rigorously question the client's financial statements.

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"I feel an intense intimacy with those who have this loathing interest in me. Further than this, I know what they mean, I sympathize with them, I understand them. There should be a name (as poetic as love) for this relationship between loather and loathed it is of the closest and more full of passion than incest."

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