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Count Down: The Past, Present and Uncertain Future of the Big Four Accounting Firms
The second edition of "Count Down" is revised to include and discuss developments affecting the Big Four and their business model since the December 2015 release of the first edition. Brought into this updated narrative, for example, are:
The Big Four's growth to collective global 2016 revenue of $ 128 billion, and the continued disparities in growth between their Audit and Advisory practices. The imposition of mandatory auditor rotation by legislation and regulation in the European Union, and in the US, the PCAOB's requirement to name lead partners on public company audits. New examples of corporate financial malfeasance and potentially disruptive auditor litigation, involving clients of each of the Big Four. In addition, this new edition expands in scope and details the required re-engineering by which - with the necessary mutual cooperation among financial statement issuers and users, the accounting profession, legislators, regulators and agencies of law enforcement - a sustainable structure for financial reporting and assurance might emerge -- that is, a Big Audit model truly fit to serve today's global capital markets.
The Big Four's growth to collective global 2016 revenue of $ 128 billion, and the continued disparities in growth between their Audit and Advisory practices. The imposition of mandatory auditor rotation by legislation and regulation in the European Union, and in the US, the PCAOB's requirement to name lead partners on public company audits. New examples of corporate financial malfeasance and potentially disruptive auditor litigation, involving clients of each of the Big Four. In addition, this new edition expands in scope and details the required re-engineering by which - with the necessary mutual cooperation among financial statement issuers and users, the accounting profession, legislators, regulators and agencies of law enforcement - a sustainable structure for financial reporting and assurance might emerge -- that is, a Big Audit model truly fit to serve today's global capital markets.
- GenresNonfictionBusiness
352 pages, Paperback
Published July 3, 2017
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Displaying 1 - 3 of 3 reviews
July 26, 2020
Jim Peterson gives a data backed explanation of why the Big4 model is risky and why eventually the audit services market may transform. a balanced counter-view to the usual story of 'breaking up the big firms', also giving the view of end-users
March 1, 2018
This should be must reading for People in the Accounting Profession and a text for those who so aspire. In this well written exploration of the Profession, Peterson, walks us thru origins , current issues and where the Profession- and those who rely upon it might be going( spoiler alert- its not pretty!). He names names and pulls no punches . His analysis is deep and his insights are penetrating
August 7, 2018
If you’re interested
This book isn’t for everyone, but is a great read for anyone interested in the Big 4 auditing firms. Straightforward and reasonable.
This book isn’t for everyone, but is a great read for anyone interested in the Big 4 auditing firms. Straightforward and reasonable.
Displaying 1 - 3 of 3 reviews