Profession needs rotation of auditors.

Accounting Today, October, 2004 by Eli Mason

Rotation of auditors should be good for the accounting profession and good for the public interest. KPMG (formerly Peat Marwick Mitchell) has been the "independent accountant" for General Electric for over 100 years. Deloitte & Touche has been the "independent accountant" for General Motors for over 85 years - those facts speak for themselves.

PricewaterhouseCoopers audits 670 companies listed on the New York Stock Exchange. Ernst & Young audits 618 companies listed on the New York Stock Exchange. Deloitte & Touche audits 561 companies listed on the New York Stock Exchange. KPMG audits 424 companies listed on the New York Stock Exchange. The Big Four audit over 97 percent of the 2,341 companies listed on the New York Stock Exchange.

Is this good for the...