The recent series of investigations into Big Four audits has triggered considerable discourse within the accounting industry around the optimum structure for delivering auditing services. Kreston Global’s Herbert M. Chain, Deputy Technical Director, Global Audit Group and Ricardo Gameroff, Kreston Global Audit Business Director comment.
The main drivers of this trend towards mid-tier firms are regulatory and professional concerns over conflicts of interest, the need for greater competition in the marketplace, and the quality and nature of service delivery. We have seen companies seek out alternative audit service providers as auditors or joint auditors, resulting in growing appetite, and thus opportunity, for smaller networks to serve former Big Four clients.
Read more at the International Accounting Bulletin here