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Sarbanes-Oxley News & Developments
Big Four Seen Shedding Small ClientsSarbox rules stretch audit firms resources.
> > In the past seven weeks alone, Deloitte & Touche LLP, KPMG LLP, and Ernst & Young LLP have dropped at least eight small US audit clients, according to Bloomberg.
This trend is the flip side of another recent development in which more and more small firms voluntarily switch from the Big Four to small accounting firms in order to save money. Small firms that were recently dropped by the Big Four have market capitalizations ranging from $12 million to $383 million.
Source: CFO
Published:2004-09-21
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