IFAC revises its ethics rules on audit partner rotation
06 Jun 2004
The Ethics Committee of the International Federation of Accountants has revised IFAC's ethics code to make it clear that an individual who has completed a predefined period (normally not more than seven years) in the role of lead engagement partner for an audit of a listed entity should not participate in that assurance engagement until a further period, normally two years, has elapsed. .
The Ethics Committee of the International Federation of Accountants has revised IFAC's ethics code to make it clear that an individual who has completed a predefined period (normally not more than seven years) in the role of lead engagement partner for an audit of a listed entity should not participate in that assurance engagement until a further period, normally two years, has elapsed.