Over-regulation of the auditing profession and global corporate scandals could cost the industry many of its members by 2013 - ACCA
Allen Blewitt has warned that smaller audit firms will not be able to compete with large firms as over-regulation of the auditing profession and global corporate scandals costs the industry most of its members by 2013.
Blewitt, ACCA's chief executive officer, told attendees at a South African ACCA gathering that only the Big Four will be viable in the next several years, according to Business Day in South Africa.
'The sheer number of audits is dropping. Legislators do not understand the auditing profession. When they regulate the profession, all they see is red tape.
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