1.

Record Nr.

UNINA9910795933103321

Autore

Peterson Jim (Lawyer)

Titolo

Count down : the past, present and uncertain future of the big four accounting firms / / Jim Peterson

Pubbl/distr/stampa

Bingley, United Kingdom : , : Emerald Publishing Limited, , 2017

ISBN

1-78743-011-1

1-78714-700-2

Edizione

[Second edition.]

Descrizione fisica

1 online resource (xviii, 333 pages)

Disciplina

338.761657

Soggetti

Accounting firms

Business & Economics - Accounting - General

Accounting

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Includes index.

Nota di bibliografia

Includes bibliographical references.

Nota di contenuto

Introduction - the past - history and context -- The present state of big audit -- A taxonomy of the non-solutions -- The acts and attitudes of the players in big audit -- The uncertain future of the big four -- Conclusion.

Sommario/riassunto

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.