Under the CLEPR 9 reforms relating to the conduct of auditors audit partners of listed companies must rotate off the audit after a period of:
A)2 years;
B)3 years;
C)5 years;
D)7 years.

Question

Quizplus · Accepted Answer

According to the CLEPR 9 reforms, audit partners of listed companies must rotate off the audit after a period of 5 years. This rule is aimed at promoting auditor independence and ensuring the integrity of financial reporting. By rotating auditors, companies can avoid the development of cozy relationships between auditors and management, which could compromise the objectivity and independence of auditors. Moreover, rotating auditors can bring fresh perspectives and insights to the audit process and enhance the quality of financial reporting. Therefore, option C) is the best choice.

Under the CLEPR 9 Reforms Relating to the Conduct of Auditors