ROTATION OF AUDITORS
The Naresh Chandra and the R.D. Joshi Committees insisted upon the rotation of auditors. It is specified that no company shall appoint or re-appoint same auditor for more than five consecutive accounting years. The Naresh Chandra Committee went one step further saying that at least 50 per cent of the engagement team responsible for the audit should also be rotated every five years.10
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