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Rotate to Stay Fresh

BY FRANK THOMAS MURPHY

Please note: This item is from our archives and was published in 2002. It is provided for historical reference. The content may be out of date and links may no longer function.

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There has been much debate recently about rotating auditors to give “fresh looks” a chance.

As a guide the SEC requires companies to publish three years’ worth of statements of income and expense and cash flows.

I suggest three-year audit engagements may be in order to comply with the “fresh look” theory.

Frank Thomas Murphy, CPA
Glendale, California