This article reviews global practices on auditor rotation and discusses the pros and cons of mandatory rotation. While many studies have examined auditor tenure and rotation, I argue that the literature has not yet answered the question as to whether mandatory rotation is desirable. The reason...

This study investigates the audit firm's decision to protect its partners' personal assets by becoming a limited liability partnership (LLP). We find that the likelihood of an audit firm switching from unlimited to limited liability is increasing in its size and exposure to litigation risk. We...

This study investigates the influence of management over auditor selection decisions during a period in which audit committees have “direct responsibility” for auditor selection. We find that contrary to the intent of SOX, management continues to have significant influence over auditor...