Sarbanes Oxley, Non Audit Services (NAS) and the mandatory rotation of audit firms

Marianne, Ojo (2013): Sarbanes Oxley, Non Audit Services (NAS) and the mandatory rotation of audit firms. Published in: Designing Optimal Models of Financial Regulation in a Changing Financial Environment No. ISBN: 978-163484-829-9 (February 2016)

Abstract

Whilst the benefits and potentials of the dual roles assumed by external auditors are emphasized, as well as the need to ensure that safeguards operating to guard against a compromise of objectivity and independence are in place, this paper also highlights the fact that even though such dual roles are appropriate in certain cases – as illustrated by justifications for limitations imposed by the Sarbanes Oxley Act and other relevant and applicable legislation – instances also persist where section 201 of Sarbanes-Oxley, with regard to internal audit outsourcing, may have been over-reactionary and may continue to hinder both companies and their auditors.

• Item Type: MPRA Paper
• Language: English
• Keywords: independence; objectivity; Sarbanes Oxley Act,; FSMA section 166; non audit services
• Subjects: G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages; G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation; G - Financial Economics > G3 - Corporate Finance and Governance; K - Law and Economics > K2 - Regulation and Business Law; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M4 - Accounting and Auditing

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