UK: Sir David Tweedie on auditor independence

Professor Sir David Tweedie, the former chairman of the International Accounting Standards Board and ICAS president designate, has recently been interviewed by the Financial Times newspaper: see here. In the interview, Sir David questions whether rules requiring the changing of lead audit partners are sufficient to protect the independence of auditors, particularly given the average tenure length (48 years) for auditors of FTSE100 companies.