The Public Company Accounting Oversight Board (PCAOB) has stirred up a hornet's nest with its concept release on mandatory auditor rotation, which was the subject of two days of hearings at PCAOB headquarters in March and a separate hearing in the House Financial Services Committee on March 28. Tom Quaadnian, vice president for the Center for Capital Markets Competitiveness at the U.S. Chamber of Commerce, told the House Capital Markets and Government Sponsored Enterprises Subcommittee that the PCAOB concept release was an example of "mission creep." He said, "The PCAOB appears to have embarked on an agenda that is leading far afield from its specific, but important, mandate to regulate auditors." Rep. Scott Garrett (R.-N.J.),
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