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| Advocates for a change in accounting practices in the United States are indicating that companies should start rotating auditing firms.
Rotating auditing firms, say accountants, would lead to higher costs and poorer quality as new auditors grappled with unfamiliar businesses.
Rotating auditing firms, moreover, has its drawbacks.
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He said that he favours rotating audit firms every five to seven years, for instance, to stop auditors cosying up to their clients.
Falls are defined as 'an event which results in a person coming to rest inadvertently on the ground or floor or other lower level.' 30 In-hospital falls data will be collected using two approaches: (1) data extracted from the paper-based hospital incident report system and (2) searching of patient's case notes on a rotating audit basis.
Because auditors can't be trusted to maintain an arms-length relationship with clients, Metcalf suggests that Congress consider a Ralph Nader-backed proposal that would require all companies to rotate auditing firms at least once every few years.
He supports requiring companies to rotate auditors every few years and has been critical of accounting firms that perform consulting and auditing activities for the same client.
The auditors who rotated through the study units wore staff RTLS tags to track the exact time and location of auditing.
And at his own company, he has rotated TIAA-CREF's auditors every five to seven years, and not used the same accounting firms to perform both auditing and consulting functions.
Rotating zones.
Rotating rooms.
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