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
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What’s next for potential CPA licensure changesA new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.
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