IFAC is pleased to respond to Independent Regulatory Board for Auditors (IRBA)’s Consultation Paper, Mandatory Audit Rotation.
IFAC recognizes the crucial role that audit plays in the financial reporting ecology. However, while vital, it is just one element of the supply chain for high-quality financial reporting. Others in the financial reporting supply chain include financial report preparers, organizational management, boards of directors, audit committees, regulators, standard setters, investors, and financial statement users.