Mandatory audit firm rotation in Spain: a policy that was never applied
In 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.
|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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- 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.
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- 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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