Big 4

Fewer Companies Changing Auditors

Tammy Whitehouse January 31, 2012

Fewer companies changed audit firms in 2011, reflecting relative stability in the market for financial reporting. While second-tier audit firms made some inroads, picking up a net gain of 28 audit clients, the Big 4 firms saw little turnover, losing a net of only eight clients. Deloitte experienced the most turnover, with a net loss of 22 clients. More audit change analysis and data inside.

Regulators Debate Solutions to Poor Audit Quality

Tammy Whitehouse January 10, 2012

An alarming increase in the rate of audit failures at Big 4 firms has caused the Public Company Accounting Oversight Board to consider controversial ideas, such as mandatory rotation of audit firms. But others, including the SEC, are urging the PCAOB to slow down. They want a better understanding of why audits fail before taking any extreme measures to improve them. More details inside.

Audit Reform Proposals in Europe Target Big Four

Neil Baker November 29, 2011

The European Commission is set to unveil a series of audit reforms intended to improve audit quality and challenge Big Four dominance of the public company audit market. Regulators are considering mandatory audit firm rotation, new bans on services firms can provide to audit clients, and dual audits. Now pressure is mounting for regulators to pull back on some of the proposals.

British Government Blasts Audit Profession for Lack of Reform

Neil Baker June 21, 2011

A U.K. parliamentary committee published a report criticizing the British audit profession and accusing firms and regulators of contributing to the financial crisis. The report calls on authorities to end the Big 4's dominance of the audit market and seeks legislation that would encourage talks between bank auditors and financial regulators.

British Anti-trust Regulator Decides Audit Market Needs Fixing

Neil Baker May 17, 2011

The Big Four accounting firms dominate the British audit market in a way that restricts, distorts or prevents competition, the country's anti-trust regulator has decided.

Investors Make New Appeal for View Into Audit Firms

Tammy Whitehouse March 24, 2011

An investor group is calling for more transparency for audit firms. The Investor Advisory Group of the Public Company Accounting Oversight Boards wants the PCAOB to establish new reporting requirements for registered audit firms that would provide more insight into the operations and financial condition of the firms.

Like Everyone Else, Big 4 Saw Revenue Decline in 2009

Tammy Whitehouse February 18, 2010

Like most of the rest of the economy, the Big 4 accounting firms hit the skids in 2009, suffering an overall revenue decline in the face of difficult markets, slow global economic activity, cost-conscious customers, and stagnant merger and acquisition activity.A social network of Big 4 professionals and alumni assembled...

More Who-Gets-Screwed Bailout News

Matt Kelly October 02, 2008

Behind every spectacular corporate meltdown, there's an auditing firm sweating bullets.Little surprise, then, that when the entire financial sector melts down, all four of the Big 4 auditing firms start to sweat. Each one has (or had) at least several clients in the financial sector that have recently been forced...

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