BusinessAccounting Community Supports KPMG

Accounting Community Supports KPMG


- Advertisment -spot_img

With the US government’s case against KPMG settled, the battered firm can refocus its efforts on its core businesses.  Enabling this refocusing is a series of internal mandates that have rippled across Deloitte & Touche, Ernst & Young, and PriceWaterhouseCoopers.

No poaching!

Leadership in each of these firms has instructed the respective partners not to take advantage of KPMG’s weakened condition.  

There does not appear to have been any collusion between the other members of the Big Four, and smaller accountancies have supported this position.

Deloitte & Touche, Ernst & Young, and PriceWaterhouseCoopers agree on the importance of KPMG’s continued success.  

The large accounting firms have received intense criticism since the implosion of Andersen as to the lack of competition and increased concentration of service providers.

The collapse of KPMG would have been problematic both for public companies and the Big Four.  With audit fees already soaring as a consequence of Sarbanes-Oxley, the loss of a competitor in the Big Four would have resulted in a concentration of power that could only drive the price of audit and tax services upward.  

Further, the Big Four feared that the loss of KPMG would bring unwanted government intervention.  

Disclaimer:  The contents of this site, such as text, graphics, images, and other materials contained on the page are for general information purposes only. This article is not a substitute for professional advice on the topics mentioned. This article does not create any form of offers to any legal or professional service. The site assumes no responsibility for errors or omissions in the contents. In no event shall the site be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action to follow the content, negligence or other tort, arising out of the use of the contents of the article. The blog reserves the right to make additions, deletions, or modifications to the contents at any time without prior notice. The site does not warrant that the site is free of viruses or other harmful components. It may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other author, agency, organization, employer or company, including the site itself. It also does not provide professional advice, diagnosis, treatment or any legal service. The site does not endorse official procedures, legal actions or qualified services and the use of its contents are solely at your own risk.


Please enter your comment!
Please enter your name here

Latest news

Divorce & Health Insurance

Recently, I had a question from someone who was going through a divorce and was concerned about lost health...

Divorce & Health Insurance

Recently, I had a question from someone who was going through a divorce and was concerned about lost health...

Dissolution by Affidavit – Personal Appearance Not Required

The elimination of the requirement of personal appearance for hearing in Missouri dissolution of marriage actions arose out of,...

Discover The Nine Vital Questions You Need To Ask Before Hiring Your Personal Injury Lawyer

Once you know the right questions to ask, hiring your personal injury lawyer is not only easy, but you...
- Advertisement -spot_imgspot_img

Disciplining And Firing Employees

Perception is Reality – Discipline with Care! Disciplining and firing employees is one of the most crucial areas for consideration...

Dental And Medical Collection Legal Guidelines

Every medical and dental practice has to deal with patients who do not pay. If it doesn't deal with...

Must read

Deeds of Variation – Are They Justified?

Deciding to make a Will and then actually putting...

Courtroom FEA: But how does FEA work?

Many legal professionals are exposed to Finite Element Analysis...
- Advertisement -spot_imgspot_img

You might also likeRELATED
Recommended to you