PRACTICE MANAGEMENT
Smaller CPA firms are gaining ground in the market for
SEC audits, according to PCAOB Chairman Mark Olson in recent testimony
before the House Committee on Small Business. “The Big Four firms have
reduced their public company audit client base by more than 1,000
clients since Arthur Andersen’s demise,” said Olson. “In the same
period...the next four have added more than 250 audit clients among
them, and smaller firms have taken on more than 580 audit clients.” He
added that 10 U.S. firms and one non-U.S. firm now each audit more
than 100 public companies, subjecting the firms to PCAOB annual
inspections.
Practice Management
