Auditing – 260 words – College Essay Example

likely to apply a more critical approach to the audit work, bringing a fresh perspective and viewpoint.

Auditors tend to spend more time seeking evidence rather than assuming results based on experience or prior knowledge, which can make them more alert. Knowing that their audit work will be reviewed by another firm helps remove the tendency to overly rely on prior year's files. Mandatory rotation also has positive commercial impacts, such as the wider range of audit firms accessing opportunities and providing greater opportunities for firms of all sizes to tender.

The implementation of this strategy may allow smaller audit firms to acquire additional work in various sectors, provided that larger audit firms restrict their provision of other services in order to prioritize audit-related tasks.