Ann: Details of Auditor Appointment/Resignation, page-8

Colleagues, I don’t normally do much more on this forum than post images of the price changes in lithium. I do feel compelled to warn of incorrect comments made in the above thread. Whether deliberate or ignorant is difficult to judge, but long-term posters may see indicators of deceptive conduct, such as mixing emotive sayings (lipstick on a pig) with ad hominem / false statements , and capitalised scare tactics.

I maintain an occupational due diligence role that is fairly boring, but that nevertheless requires me to have some knowledge in this area. I work overseas, so am more familiar with COSO and the Sarbanes Oxley Act (SOX) than I am with Australia’s Corporation Act 2001. The companies I assess will receive a higher overall assessed judgement of risk if they retain the same audit firm for more than five years. SOX mandates that they do - it is a legal requirement to at least change the ‘audit lead’ every fives years in the US.
Despite the pros and cons, Audit partner rotation is healthy and required, and I would only assess it as a red flag if it followed an adverse audit finding by the previous audit company.
I encourage readers to not believe my words either but to do your own due diligence, and treat with healthy scepticism posters who say things like ‘Changing auditors is never a good thing.”