How long is the average audit firm tenure for a company in the Russell 3000? As of 2021, that answer varies largely depending on the size of the company. Overall, the average audit firm tenure in the Russell 3000 is … Continue reading
Category Archives: Auditor Tenure
2021 Audit Committee Transparency Barometer
Now in its eighth year of publication, the Audit Committee Transparency Barometer, released by the Center for Audit Quality (CAQ) on November 10, 2021, continues to provide investors with unique insight into the disclosures made by audit committees in proxy statements each … Continue reading
Post-Wirecard, Germany Seeks to Tighten Audit Rules
According to the Financial Times, Germany has responded to the Wirecard scandal by proposing a slew of audit regulations aimed at bolstering auditor independence. The proposal includes reducing the maximum auditor tenure from 20 years to 10 years and limiting … Continue reading
Auditor Tenure by Revenue
Looking at auditor tenure as a whole across a population of 4,356 SEC registrants, 49.2% have engaged an audit firm for less than 10 years, while 4.9% have engaged an auditor for 50 years or more. A very small portion … Continue reading
After 111 Years, General Electric Switches Auditor
On June 18th, the Audit Committee of General Electric [GE] – a multinational conglomerate company – selected Deloitte & Touche as its independent auditor for the Company’s fiscal year ending December 31, 2021, ending its 111-year tenure with KPMG. According … Continue reading
Mandatory Audit Firm Rotation in the FTSE 350
Thirty-four FTSE 350 companies are required to rotate audit firms or conduct a tender process by 2023, according to EU Regulation 537/2014. The intention of mandatory audit firm rotation is to improve audit quality by limiting risks of repeated inaccuracies, encouraging … Continue reading
An Overview of European Databases
Audit Analytics offers a suite of data products covering public companies listed on European exchanges across 31 countries in the EEA and Switzerland, which includes comprehensive databases of Audit Fees, Audit Opinions, Auditor Changes, Auditor Engagements, Key Audit Matters, and … Continue reading