Monday, September 27, 2004

USATODAY.com - More firms flee Big Four accountants

Cost is the main reason for the shift. Audit fees were already rising, thanks to greater demands in new regulations. Many fear fees could really take off this year, because an especially onerous part of Sarbanes-Oxley, Section 404, takes effect for many companies. The rules require auditors to conduct expensive tests of a company's accounting controls to make sure there are safeguards to stop the books from getting cooked.

Better access to top accounting professionals also is a factor. Given the complex new accounting rules, many companies want ready access to the partner in charge of the audit, says Leland Graul, director at BDO. The Big Four, which rely heavily on recent college grads, assign a partner to every 10 to 12 employees, he says. BDO has one partner to every six, he says.

USATODAY.com - More firms flee Big Four accountants

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1 Comments:

Finding an IT audit professional? This takes a special person that is hard to find and does not easily fit into a profile like a Process Control Auditor. I look for a hybrid of skills that include broad systems knowledge, a solid undertanding of how to identify and set IT control objectives, accreditations such as CISA or CISSP, understanding of CoBIT methodology and previous IT audit experience.

Bruce Fall is a senior level recruiter in the Accounting / Finance Industry. JB Groner Executive Search 856-857-0654 or executivejobs@aol.com

October 10, 2004  

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