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  3. the increase in the size of audit firms has been a

The increase in the size of audit firms has been a source of concern to...

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Accounting

  1. The increase in the size of audit firms has been a source of concern to regulators and clients alike. Some audit firms feel that mergers between the largest firms of auditors are necessary in order to meet the global demand for their services. However their clients are concerned that such mergers will create a monopolistic market for audit services which will not be in their best interests.

Required:

  1. Explain the reasons why the largest audit firms might wish to merge their practices.
  2. Discuss the potential problems created by mergers of the largest firms of auditors.

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