Brussels, 29/05/2013 (Agence Europe) -At the Competitiveness Council of Wednesday 29 May, some countries backed the idea of compulsory rotation of auditing companies, but others failed see any way of reducing the dominance of the market by the Big Four auditing firms.
The Irish Presidency of the EU Council of Ministers suggests that compulsory rotation of auditing companies should take place after at most 7 years (8 for joint audits), renewable under certain conditions for up to 7 years (8...