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What goes wrong when accounting firms become consultants. The Big Four accounting firms now get the majority of their revenue from consulting, not their core auditing businesses. But can an auditor remain independent when it’s competing for lucrative consulting contracts? ✦

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  • Some of these issues could be resolved by requiring clients firms and agencies to rotate their auditing firms every 5 years. I have watched client firms game their audits by keeping track of errors that the auditing firms did not catch. After a while, these errors have become so egregious that the auditing

    Some of these issues could be resolved by requiring clients firms and agencies to rotate their auditing firms every 5 years. I have watched client firms game their audits by keeping track of errors that the auditing firms did not catch. After a while, these errors have become so egregious that the auditing firm would be humiliated if the true state of affairs were revealed. At this point, the auditing firm is merely an arm of the client firm.