alexa The New European Audit Firm Rotation
ISSN: 2375-4389

Journal of Global Economics
Open Access

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The New European Audit Firm Rotation

Patrick Velte*

Professor for Accounting & Auditing, Leuphana University Lueneburg, Germany

*Corresponding Author:
Patrick Velte
Professor for Accounting & Auditing
Leuphana University Lueneburg, Germany
Tel: 04131 677-2117
E-mail: [email protected]

Received September 22, 2014; Accepted September 25, 2014; Published October 02, 2014

Citation: Velte P (2014) The New European Audit Firm Rotation. J Glob Econ 2:e105. doi: 10.4172/2375-4389.1000e105

Copyright: © 2014 Velte P. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.



The European legislator has introduced a mandatory audit firm rotation principally after ten years and with regard to a cooling off period of four years to increase auditor independence. This kind of external rotation complements the existing internal mandatory rotation (auditor rotation). This paper implies a critical review of the economics need of rotation rules. In contrast to the perception of the European standard setter, mandatory external rotation will not automatically lead to an increased financial accounting and audit quality.


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