Most of the global fortune 5000companies are audited by Big 4 accounting firms (Deloitte, E&Y,...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Most of the global fortune 5000companies are audited by Big 4 accounting firms (Deloitte, E&Y, KPGM and PwC). Economic changes can affect how clients select their assurance providers.
Required:
1. In the time of economic hardship or recession, such as COVID-19, would you expect the demand for audits to increase or decrease?
2. Would you expect clients to shift from big 4 auditors to mid-tier auditors, or from mid-tier auditors in times of economic recession? Why or why not?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
