Most of the global fortune 5000companies are audited by Big 4 accounting firms (Deloitte, E&Y,...
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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?
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