Charities shift audits to mid-tier
Charities are shifting their audit business away from the Big Five firms, giving more work to the mid-tier, a new survey has found.
According to new figures medium-sized accountancy firms have increased their share of the audit market from29% to 37%, but the big five still dominate the market.
But the survey showed that satisfaction levels were lower among charity clients of the big five, though in total nearly two thirds were happy with their auditors.
Although PricewaterhouseCoopers came out top of the league of charity auditors, published in Charity Finance magazine, it was also the biggest loser, with RNLI moving to Horwath Clark Whitehill.