When big public companies change auditors, it often makes headlines. For example, General Electric in June announced Deloitte would take over as its independent auditor in 2021, ending its over 100 year relationship of working with fellow Big Four firm KPMG.

Maria L. Murphy, CPA, is a regular contributor to Compliance Week. She is a senior content management analyst, accounting and auditing products, CCH tax and accounting North America for Wolters Kluwer....