Write 7 page essay on the topic Discuss the arguments for and against compulsory audit firm rotation and also for and against a total ban on audit companies(by which is meant firms of accountants) carrying out non-audit services.
the perspective of having an audit firm safeguard their rights where the key objective of the audit firms has become the maximization of profit, where they mostly only look to cover their own risk.
The Enron and World Call scandal gave rise to a controversy where the auditors actually provided a helping hand to their audit client in carrying out and concealing fraud and other deceptive acts which resulted in huge losses to the shareholders, the employees and other related stakeholders alike.