Jeffrey Weiner, Managing Partner, Quoted in Reuters Article About the Proposed Mandatory Auditor Rotation from the PCAOB

Excerpt:

“Your universe in these large, multinational companies gets limited,” said Jeffrey Weiner, managing partner at accounting firm Marcum LLP. “There could be issues of lack of choice, and mandatory firm rotation might be difficult.”

Upfront costs would also increase because of the time needed to screen new clients, get familiar with their operations and create new audit files, he said.

“There’s a benefit and detriment,” he said. “The question is, does the attempt to assure greater independence and objectivity outweigh the cost of switching?”

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