Redividing the audit pie.

Bigger Pieces of the Audit Pie

Before the Big 8 mergers of 1989, no firm controlled more than 16% of the audit market for publicly traded companies. After the mergers, this percentage increased to 19%. If the proposed mergers of Ernst & Young with KPMG Peat Marwick and of Coopers & Lybrand with Price Waterhouse take place, the largest firm will handle 34% of all public company audits. Note, however, that in the last decade the share of the other firms has hardly changed.



Source: Research from Jeff L. Payne, CPA, PhD, assistant professor, University of Mississippi, and Morris H. Stocks, CPA, PhD, associate professor, University of Mississippi. Data compiled from Standard & Poor's Compustat for NYSE, Amex and NASDAQ.


6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.


How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.