In June 2004, the IFAC Ethics Committee issued its Revision to Paragraph 8.151 Code of Ethics for
Question:
a. The lead engagement partner should be rotated after a predefined period, normally no more than seven years.
b. A partner rotating after a predefined period should not participate in the audit engagement until a further period of time, normally two years, has elapsed.
Required:
How does the revised version differ from the previous version of the paragraph mentioned in Exercise 3?
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The previous version of paragraph 8151 of the Code of Ethics for Professional Accountants reads as f...View the full answer
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