The latest string of accounting problems and stock plunges across the globe yet again bring to the centre stage the role played by the auditor.
Now, sniffing out fraud is no child’s play. No police can hope to prevent every crime. Nonetheless, such frequent scandals call into question whether this is the best the Big Four: KPMG, Ernst & Young (EY), Deloitte Touche and PricewaterhouseCoopers (PwC) can do. And if so, whether their efforts are worth the high fees they collect in annual audit fees.
