Mandatory audit firm rotation in Spain: a policy that was never applied
AbstractIn recent international debates on auditing regulation, Spain has assumed a real prominence as a claimed practical example of where a policy of mandatory audit firm rotation did not work and was duly abolished. This study provides an analysis of the implementation and removal of such policy in Spain. Using the evidence provided by congressional hearings, financial newspapers and other documents we demonstrate that at no stage was mandatory rotation of audit firms ever enforced on Spanish auditors.
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Bibliographic InfoPaper provided by Instituto de Empresa, Area of Economic Environment in its series Working Papers Economia with number wp06-21.
Length: 32 pages
Date of creation: May 2006
Date of revision:
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Web page: http://www.ie.edu/esp/claustro/claustro_areas_detalle.asp?id=5
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Auditing regulation; Auditor independence; Mandatory audit firm rotation;
This paper has been announced in the following NEP Reports:
- NEP-ACC-2006-09-23 (Accounting & Auditing)
- NEP-ALL-2006-09-23 (All new papers)
- NEP-REG-2006-09-23 (Regulation)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Deis, Donald Jr. & Giroux, Gary, 1996. "The effect of auditor changes on audit fees, audit hours, and audit quality," Journal of Accounting and Public Policy, Elsevier, vol. 15(1), pages 55-76.
- Arrunada, Benito & Paz-Ares, Candido, 1997. "Mandatory rotation of company auditors: A critical examination," International Review of Law and Economics, Elsevier, vol. 17(1), pages 31-61, March.
- Christopher K.M. Pong, 1999. "Auditor Concentration: A Replication and Extension for the UK Audit Market 1991-1995," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 26(3-4), pages 451-475.
- Zeff, Stephen A., 2003. "Du Pont's early policy on the rotation of audit firms," Journal of Accounting and Public Policy, Elsevier, vol. 22(1), pages 1-18.
- Lennox, Clive, 2000. "Do companies successfully engage in opinion-shopping? Evidence from the UK," Journal of Accounting and Economics, Elsevier, vol. 29(3), pages 321-337, June.
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