The turnover of accounting firms at public companies slowed a bit in 2006, with 1,322 U.S. public companies disclosing they’d parted ways with their audit firms, including 66 companies that changed auditors more than once in the same year, according to a recent study.
Since 2002, with the fall of Arthur Andersen from the ranks of major audit firms, more than 6,500 companies have changed auditors, said Glass, Lewis & Co. in its research report. In 2005, 1,515 companies changed audit firms, indicating a slight slowdown in the rate at which companies switch firms.
