{"id":771,"date":"2019-02-11T20:10:54","date_gmt":"2019-02-11T19:10:54","guid":{"rendered":"https:\/\/eaa-online.org\/arc\/blog\/blog\/auditor-tenure-among-nordic-indices\/"},"modified":"2019-02-11T20:10:54","modified_gmt":"2019-02-11T19:10:54","slug":"auditor-tenure-among-nordic-indices","status":"publish","type":"post","link":"https:\/\/eaa-online.org\/arc\/blog\/2019\/02\/11\/auditor-tenure-among-nordic-indices\/","title":{"rendered":"Auditor Tenure among Nordic Indices"},"content":{"rendered":"<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">In this post, we look at the longest auditor tenures of the companies in the top Nordic indices. This includes a review of 136 companies, with only one having a joint audit.<\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">As shown in the graph below, eight of these 136 companies, or 6%, have an auditor tenure of over 25 years. This is contrasted to 56% of the companies with an auditor relationship of ten years or less. Thirty percent of the companies have an auditor relationship spanning between 11-20 years, and 9% have engaged their auditor between 21-25 years.<\/p>\n<div class=\"wp-block-image\" style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1em; outline: 0px; padding: 0px; vertical-align: baseline; max-width: 100%; color: rgb(55, 55, 55);\">\n<figure class=\"aligncenter\" style=\"display: table; clear: both; margin-left: auto; margin-right: auto;\">\n\t\t<img decoding=\"async\" alt=\"\" class=\"wp-image-24757\" sizes=\"(max-width: 519px) 100vw, 519px\" src=\"https:\/\/www.auditanalytics.com\/blog\/wp-content\/uploads\/2019\/02\/Graph-1-3.png\" srcset=\"https:\/\/www.auditanalytics.com\/blog\/wp-content\/uploads\/2019\/02\/Graph-1-3.png 519w, https:\/\/www.auditanalytics.com\/blog\/wp-content\/uploads\/2019\/02\/Graph-1-3-300x206.png 300w, https:\/\/www.auditanalytics.com\/blog\/wp-content\/uploads\/2019\/02\/Graph-1-3-437x300.png 437w\" style=\"max-width: 100%; height: auto; border: none; padding: 6px;\" \/><\/figure>\n<\/div>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">PricewaterhouseCoopers has audited Kone Oyj (KNEBV: NASDAQ OMX Helsinki), a Finnish company included in the OMX H25, since 1957 &ndash; the longest auditor tenure among companies in the Nordic indices. Other companies with tenures over 25 years are listed in the table below.<\/p>\n<figure class=\"wp-block-image\" style=\"max-width: 100%; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; color: rgb(55, 55, 55); font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px;\">\n\t<img decoding=\"async\" alt=\"\" class=\"wp-image-24752\" sizes=\"(max-width: 874px) 100vw, 874px\" src=\"https:\/\/www.auditanalytics.com\/blog\/wp-content\/uploads\/2019\/02\/Table-1-2.png\" srcset=\"https:\/\/www.auditanalytics.com\/blog\/wp-content\/uploads\/2019\/02\/Table-1-2.png 874w, https:\/\/www.auditanalytics.com\/blog\/wp-content\/uploads\/2019\/02\/Table-1-2-300x95.png 300w, https:\/\/www.auditanalytics.com\/blog\/wp-content\/uploads\/2019\/02\/Table-1-2-768x243.png 768w, https:\/\/www.auditanalytics.com\/blog\/wp-content\/uploads\/2019\/02\/Table-1-2-500x158.png 500w\" style=\"max-width: 100%; height: auto; border: none; padding: 6px;\" \/><\/figure>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">These companies could soon be up for rotation in 2020, according to the EU transition rules on Mandatory Firm Rotation. However, all of the EU Nordic countries adopted the option to permit an extension of the audit engagement following a tender or, in some countries, a dual audit.<\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\">Worth noting, 18 of the 23 companies in the top Nordic indices that now have auditor tenures between 11-15 years were due to rotate in 2016 or 2017 but decided to retain their current auditor. It will be interesting to see whether the extended engagements go to term, or whether these companies will decide to rotate earlier than required.<\/p>\n<p style=\"border: 0px; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 15px; margin: 0px 0px 1.625em; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(55, 55, 55);\"><em style=\"border: 0px; font-family: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;\">For more information about this post or our European databases, please contact us at&nbsp;<a href=\"mailto:info@auditanalytics.com\" style=\"border: 0px; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline; color: rgb(67, 102, 113); text-decoration-line: none;\">info@auditanalytics.com<\/a>&nbsp;or call 508-476-7007.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this post, we look at the longest auditor tenures of the companies in the top Nordic indices. This includes a review of 136 companies, with only one having a joint audit. As shown in the graph below, eight of these 136 companies, or 6%, have an auditor tenure of over 25 years. This is [&hellip;]<\/p>\n","protected":false},"author":69,"featured_media":772,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0},"categories":[1],"tags":[3],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Auditor Tenure among Nordic Indices - ARC<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Auditor Tenure among Nordic Indices - ARC\" \/>\n<meta property=\"og:description\" content=\"In this post, we look at the longest auditor tenures of the companies in the top Nordic indices. This includes a review of 136 companies, with only one having a joint audit. As shown in the graph below, eight of these 136 companies, or 6%, have an auditor tenure of over 25 years. This is [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/eaa-online.org\/arc\/blog\/2019\/02\/11\/auditor-tenure-among-nordic-indices\/\" \/>\n<meta property=\"og:site_name\" content=\"ARC\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-11T19:10:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/eaa-online.org\/app\/uploads\/sites\/3\/2019\/02\/tenure.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"390\" \/>\n\t<meta property=\"og:image:height\" content=\"270\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"WALTER WILLEY\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"WALTER WILLEY\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/eaa-online.org\/arc\/blog\/2019\/02\/11\/auditor-tenure-among-nordic-indices\/\",\"url\":\"https:\/\/eaa-online.org\/arc\/blog\/2019\/02\/11\/auditor-tenure-among-nordic-indices\/\",\"name\":\"Auditor Tenure among Nordic Indices - ARC\",\"isPartOf\":{\"@id\":\"https:\/\/eaa-online.org\/arc\/#website\"},\"datePublished\":\"2019-02-11T19:10:54+00:00\",\"dateModified\":\"2019-02-11T19:10:54+00:00\",\"author\":{\"@id\":\"https:\/\/eaa-online.org\/arc\/#\/schema\/person\/d99d13569af05c8d3507757af2b1229f\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/eaa-online.org\/arc\/blog\/2019\/02\/11\/auditor-tenure-among-nordic-indices\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/eaa-online.org\/arc\/#website\",\"url\":\"https:\/\/eaa-online.org\/arc\/\",\"name\":\"ARC\",\"description\":\"Advanced Resources Center\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/eaa-online.org\/arc\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/eaa-online.org\/arc\/#\/schema\/person\/d99d13569af05c8d3507757af2b1229f\",\"name\":\"WALTER WILLEY\",\"sameAs\":[\"http:\/\/www.\"],\"url\":\"https:\/\/eaa-online.org\/arc\/blog\/members\/69\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Auditor Tenure among Nordic Indices - ARC","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Auditor Tenure among Nordic Indices - ARC","og_description":"In this post, we look at the longest auditor tenures of the companies in the top Nordic indices. 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