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Sarbanes-Oxley News & Developments
Big Four Moves Away from Smaller ClientsIn the first nine months of 2004, Big Four accounting firms resigned from 157 accounts.
> > Some resignations followed unclean opinions, others reflect a move away from smaller clients that are perceived as riskier bets in todays regulatory climate. Not only are some small-caps struggling to implement appropriate internal controls, but they also generate less fee revenue. And with the Big Four stretched thin thanks to Sarbanes-Oxley internal-controls work, they appear to have decided it is better to trim their client lists.
Source: CFO
Published:2004-12-13
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