The Big Four firm says it wants to "restore trust in audit" but a U.K. regulator indicates the changes don't go far enough.
The Competition and Markets Authority stopped short of recommending the Big Four be broken up in response to a series of high-profile audit failures.
“The Big Four’s dominance has fostered a precarious market which shuts out challengers and delivers audits which investors and the public cannot rely on."
Heading into the new year, technology is starting to wipe out lower-level number crunchers in favor of mid-level team members focused on strategy.
The sudden failure of U.K. construction firm Carillion exposes the limits of public company auditing and sparks discussion of reforms.
The longer the tenure of a company's Big Four auditor, the greater the fee — even though the effort required of the auditor lessens over time.
Lawmakers have labeled the four firms a “cozy club incapable of providing the degree of independent challenge needed” for auditing public companies.
The firm says its 26.6% disparity reflects the predominance of men in director and other high-level positions.
The SEC cleans house at the Public Company Accounting Oversight Board.
The more a Big Four firm pays its auditors, the fewer restatements its clients have, finds a new study.
And the Big 4 are ethically superior to smaller public accounting firms, new research finds.
The PCAOB's annual inspections find deficiencies in 24% of a sample of Deloitte audits and 22% of PwC's.
