Cooling-off period for former employees:

This is the period of time following an employee’s departure from Deloitte during which they are not permitted to return to the organization in a comparable capacity. Depending on the circumstances surrounding the employee’s leaving and their job, this period may or may not last longer. In many firms, preventing conflicts of interest and safeguarding confidential company information is normal procedure.

Cooling-off period in the context of audit independence:

In the realm of auditing, there’s a mandatory cooling-off period for auditors who transition to client-side roles. This period ensures independence and objectivity in the auditing process. Auditors who have worked on a specific client’s audit cannot take up a key financial role within that client for a certain period to avoid potential conflicts of interest. The exact duration of this cooling-off period is regulated by accounting standards and varies by jurisdiction.