More than a thousand listed companies have not changed their audit firms in ten years, and an extended audit period easily breeds risks.

Auditing is related to the public interest, and independence is the foundation of auditing. According to regulations, state-owned enterprises are not allowed to engage the same accounting firm for more than 8 years consecutively, and if necessary, the period may be extended to no more than 10 years, after which rotation must be conducted. For non-state-owned listed companies, there is no mandatory provision. Securities Times reporters have found that more than a thousand A-share listed companies have engaged the same accounting firm for continuous auditing for more than 10 years, with some service periods lasting for two or three decades. Standardizing auditing is a key element in the risk prevention and control of capital markets. The seemingly stable and efficient long-term cooperation model conceals deep-seated structural flaws. Many industry insiders believe that excessively long-term partnerships may gradually weaken the independence and constraining power of auditing. The industry contradictions caused by auditing terms are becoming increasingly prominent: long-term cooperation between auditing firms and companies may form vested interests, affecting the independence of auditing; however, simply "changing for the sake of change" can lead to fluctuations in financial report data and increased compliance costs for companies. In response to the current industry pain points, many industry insiders have proposed a hierarchical optimization plan based on market practices to balance the independence of auditing with the stability of capital market information disclosure.