You are the managing partner of a medium-size CPA firm with several publicly traded clients. One of your partners, John DeFries, has served as lead partner for the audit engagement of Rousch Industries, a publicly traded client, for the last five years. He has just gotten the word that he will be replaced in that capacity by another partner beginning with next year’s audit and is quite upset over this situation. He has emailed you arguing that he has invested years getting to know Rousch’s business operations and is therefore the best-qualified partner to lead the audit. He feels he is being penalized for some reason he does not understand.

Write an email to Mr. DeFries explaining the requirements of the Sarbanes-Oxley Act and the SEC regarding audit partner rotation and assuring him that he is not being penalized for anything. Make sure you create a to, from, subject line, and date. You do not need a reader second-page header for this assignment but it does need to conform to the 2 page requirement.

Answer rating: 100% (QA)

To Mr John DeFries Date 28112021 From Elvis Presley Dear Mr John DeFries Subject Audit Rotation for Rousch Industries Regarding your recent email conc... View the full answer