“Big is best” is a phrase often quoted in business circles, but for many corporate consumers of audit services the truth can be very different.

An independent survey into clients’ views on the service they received from their last audit provider found the Big Four lagging far behind smaller rivals.

Of 12 leading audit firms, the Big Four member to receive the highest ranking, PricewaterhouseCoopers, only managed 5th place. The firm stood out for its strong technical skills but failed to impress in other areas.

Mazars was placed first with Horwath Clark Whitehill and Grant Thornton coming in second and third.

Ernst & Young suffered the worst results, ranking 12th and coming bottom in each of the five aspects of service graded. Staff were described as “pretty dire”, short on technical knowledge, confidence and even decent written English. Negative comments outnumbered the positive two to one.

“These findings are wholly inconsistent with the positive and detailed feedback we receive from our clients and other stakeholders,” stated E&Y. “We are committed to audit quality and delivering technical excellence."

KPMG and Deloitte fared little better in the inaugural Finance 360 survey of senior readers of Accountancy Age and sister publication Financial Director, coming in 9th and 10th.

While KPMG won plaudits for technical skills, it was let down by perception of its added value, with one FD claiming “very little feedback on potential improvements” their money.

Deloitte also struggled to prove it added value, while clients felt the firm’s audits were “mechanical” and an exercise in “box-ticking”.

One FD felt Deloitte was “more concerned with gathering enough evidence to stand up in court with a defence if there were ever a negligence case”.

The firm proved more popular for its transparent and fair billing. A KPMG spokesman said the firm was “committed to the very highest standards of audit quality and service”. Deloitte declined to comment.

At the other end of the rankings Mazars scored well across all five categories, while Horwath came top for fair billing.

David Evans, senior partner at first-placed Mazars, said: “Every team member at Mazars strives to put clients at the heart of everything they do. It’s fantastic to have this hard work and dedication recognised in the results of the survey.”

Mark Lucas, head of audit, tax, advisory at 6th placed RSM Tenon, said: “It's clear the profession can all do better to build on the quality of services and responsiveness to the marketplace.”

Further reading:

Audit services: top to bottom