Auditors to be changed every nine years, EC proposes
Leaked draft EC regulation demands sweeping changes in auditor regulation
Changing auditors every nine years could become a reality for FTSE 100 companies, according to draft European Commission regulations.
A draft document from internal markets commissioner Michel Barnier describes current tenures, which are an average of 48 years for FTSE 100 companies, as having "deprived audit of its key ethos: professional scepticism".
However, mandatory timescales are not popular
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