Topic > Analysis by Lynn Turner - 954

First, Lynn Turner suggests that shareholders should vote on whether or not to continue audits, so that auditors can realize that they are not serving management, but the investors. Second, like audit requirements in Europe, the PCAOB should require rotation of audit firms for each company. Third, auditors should be required to consider publicly available information that is contrary to information provided by management. Third, audit partners should lead and spend more time auditing companies, as they have the most experience. They would be the ones best able to properly perform an audit. Finally, accountants should be required to complete a higher education, comparable to that obtained by both lawyers and doctors