The Effect Of Audit Rotation In Nigeria

CHAPTER ONEINTRODUCTION1.1    Background Of The StudyThe concern about tenure arises because if a company and an auditing firm have been in close association for a long time, this may lead to auditors identifying with their client’s management consequent detrimental effect on independence, (Gray and Manson, 2008). This view has led to suggestions that audit should be rotated with the added benefit that this would result in automatic checks of the work of the previous auditor; encourage audit innovation; and discourage complacency (Gray and Manson, 2008).The idea with mandatory a…