Over the last six months the largest firms have shed significant numbers of audit clients in the US, providing further evidence of a risk-averse approach adopted by firms in an increasingly litigious environment.
In a survey by Audit Analytics, a data collector, it showed the Big Four had lost 170 more US-listed audit clients than they had taken on.
Ernst & Young shed the most, losing 79 and taking on only 17.
PricewaterhouseCooopers came a close second shedding 73 and taking on 19. This heightened wariness by the Big Four is however good news for mid-tier firms who are picking up the work.
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