Count down : the past, present and uncertain future of the big four accounting firms / by Jim Peterson
By: Peterson, Jim.Publisher: Bingley, U.K. : Emerald Publishing, 2017Edition: 2nd ed.Description: xviii, 333 p. : ill. ; 23 cm.ISBN: 9781787147010.Subject(s): Accounting history | Auditing | Auditors | Accounting firms | Accounting professionOnline resources: Download as an eBook
|Item type||Home library||Call number||URL||Status||Notes||Date due||Item reserves|
|Book||Australia||070 PET 2017 (Browse shelf)||Available|
|EBook||International||EBL Ebook (Browse shelf)||Link to resource||eBook||Available as an ebook here|
|Book||New Zealand||070 COU (Browse shelf)||Available|
INTRODUCTION - THE PAST - HISTORY AND CONTEXT: "Where were the auditors?" -- Where is big audit today -- Framing the issues -- Lessons from big audit's early history - The Great Western Railway - Mr. Deloitte's first audit report. HP versus autonomy - how big audit might survive the fallout. Counting the beans - facts and figure on big audit. THE PRESENT STATE OF BIG AUDIT: How bad it it? A TAXONOMY OF THE NON-SOLUTIONS: The auditors - missing from the financial crisis -- The unachievable "magic bullets". THE ACTS AND ATTITUDES OF THE PLAYERS IN BIG AUDIT: The SEC settlement with the big four - a Chinese puzzle that missed some key pieces -- Sarbanes-Oxley itself - its first ten years, the years since and counting -- The PCAOB asked auditors an unanswerable question - do company controls "work"? -- Epidemic levels of audit deficiencies - IFIAR and the PCAOB overplay a hand -- The EC's 2010 green paper - the bureaucrats add little -- Instead of EU reform - Commissioner Barnier's further efforts. Disintegration - the Big Four tell the House of Lords, "we don't see that on the horizon" -- Deloitte's audit ban in Saudi Arabia - the potential for global effects -- As for the view of the issuers' lobby -- Audited financial statements for the big four - should the cobbler's barefoot children have shoes? -- Consulting - a plausible exit strategy? -- "What if?" A contra-factual -- The future belongs to "big data" - the challenges will be enormous. THE UNCERTAIN FUTURE OF THE BIG FOUR: What could be the future? -- Audit quality and failure study - a modest proposal -- Federal "charters" for accounting firms and their personnel - a blank-page approach. APPENDIX: Timeline - an abbreviated history - the origins of the big eight, and how they shrank to four.
Outlines new challenges facing the Big Four auditing firms. Illustrates issues with auditing and advisory practices, regulations, and technological disruption. Suggests a more sustainable audit model to better serve global capital markets.