Do the partner rotation and compensation requirements apply to auditors of non-issuer brokers and dealers or investment advisers that are non-issuers?
The term “audit partner” is intended to apply to an issuer as defined by the Sarbanes-Oxley Act of 2002. Therefore, for brokers and dealers or investment advisers which are not issuers as defined by the Act, the auditors would not be subject to the rotation requirements or the compensation requirements of the Commission’s independence rules. However, since the prohibition on non-audit services applies to audit clients, those provisions would apply to auditors of non-issuer brokers and dealers or investment advisers.
Related Questions
- Do the partner rotation and compensation requirements apply to auditors of non-issuer brokers and dealers or investment advisers that are non-issuers?
- What are the rotation requirements for the "relationship" partner who is not the "lead" or "concurring" partner?
- Do the Audit Partner Rotation Requirements Apply to Small Accounting Firms?
