The compromise resulted in shorter tenures for lead audit partners and more detailed rules for other members of the engagement team instead of the audit firm rotation requirement, considered more onerous by the industry and its clients.

FORBES: KPMG's Inside Trader: What The Auditor, and Skechers, Don't Want To Talk About

Mandatory audit firm rotation was an old tune sung again by the Public Company Accounting Oversight Board, the audit industry regulator, beginning in August of 2011.

FORBES: Audit Firm Rotation: Maybe Make A Switch When The Government Takes Over