Count down: the past, present and uncertain future of the big four accounting firms
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
United Kingdom
Emerald Publishing
2017
|
| Edition: | Second edition |
| Subjects: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029706217&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Physical Description: | xviii, 333 Seiten Illustrationen |
| ISBN: | 9781787147010 |
Staff View
MARC
| LEADER | 00000nam a2200000 c 4500 | ||
|---|---|---|---|
| 001 | BV044302373 | ||
| 003 | DE-604 | ||
| 005 | 20190731 | ||
| 007 | t| | ||
| 008 | 170509s2017 xx a||| |||| 00||| eng d | ||
| 020 | |a 9781787147010 |9 978-1-78714-701-0 | ||
| 035 | |a (OCoLC)1002235599 | ||
| 035 | |a (DE-599)BVBBV044302373 | ||
| 040 | |a DE-604 |b ger |e rda | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-N2 |a DE-384 | ||
| 084 | |a QQ 510 |0 (DE-625)141977: |2 rvk | ||
| 100 | 1 | |a Peterson, Jim |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Count down |b the past, present and uncertain future of the big four accounting firms |c by Jim Peterson |
| 250 | |a Second edition | ||
| 264 | 1 | |a United Kingdom |b Emerald Publishing |c 2017 | |
| 300 | |a xviii, 333 Seiten |b Illustrationen | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 650 | 0 | 7 | |a Wirtschaftsprüfungsgesellschaft |0 (DE-588)4190069-8 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Dienstleistung |0 (DE-588)4012178-1 |2 gnd |9 rswk-swf |
| 689 | 0 | 0 | |a Wirtschaftsprüfungsgesellschaft |0 (DE-588)4190069-8 |D s |
| 689 | 0 | 1 | |a Dienstleistung |0 (DE-588)4012178-1 |D s |
| 689 | 0 | |5 DE-604 | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |z 978-1-78714-700-3 |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe, EPUB |z 978-1-78743-011-2 |
| 787 | 0 | 8 | |i Überarbeitung von |a Peterson, Jim: Count down |d 2015 |k Studies in the development of accounting thought ; volume 19 |z 978-1-78560-581-9 |w (DE-604)BV043198433 |
| 856 | 4 | 2 | |m Digitalisierung UB Augsburg - ADAM Catalogue Enrichment |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029706217&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 259 | |a 2 | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-029706217 | |
Record in the Search Index
| _version_ | 1819297009709875200 |
|---|---|
| adam_text | CONTENTS
Preface to the Second Edition xi
Foreword xv
I. Introduction — The Past — History and Context 1
Where Were the Auditors? 1
Where Is Big Audit Today? 4
The Visibility of the Big Four 5
The Expected Attitude of the Players 6
To the Insiders, Big Audit Is So Yesterday 8
To the Rest of the World — Accounting Is So Boring 9
Familiarity 11
Complexity Conceals 11
Big Audit Looks Like Any Other Utility 12
Mind the Gap 14
The Limits of the Utility Metaphor 16
Where Are the Critics? 17
Framing the Issues 18
Andersen/Enron — The Beginning of the End 20
The Diminished Value of Today s Assurance Product 21
The Players in the Matrix — Their Interlocking Mutuality 22
of Interests
Lessons from Big Audit s Early History: The Great Western 28
Railway — Mr. Deloitte s First Audit Report
HP versus Autonomy: How Big Audit Might Survive the 34
Fallout
Sidebar: Counting the Beans — Facts and Figures on 38
Big Audit
II. The Present State of Big Audit 45
How Bad Is It? 45
What Is Expected? What Should the Auditors Do? 45
The Big Four Won t Be Here At All — The Next Collapse 46
Goes Four-to-Zero
When Reality Bites, It Will Bite Hard 46
The Problem of Available Choice 5 1
The Attitude of the Regulators 53
The Financial Fragility of the Big Four — The Tipping Point 56
The Model and Its Assumptions 57
The Grim Reality of the Calculations 58
And the Cause for Optimism? 60
The Big Four Accounting Firms Are Down to Critical 64
Mass, Said the Financial Times — So It Must Be Official
Accounting Standards Convergence — Nobody Knows 66
Where They Are
The Standard-Setters Finish the Job 73
In Reality, Convergence Doesn t Matter 75
Sidebar: Convergence and Postponements 76
In All Material Respects — The Auditors Don t Say 78
Non-GAAP Metrics — What Does Generally Accepted 82
Really Mean?
Auditor Independence — Appearance and Reality 85
No Value — No Point 85
The Auditors Real Clients — Time to Reassess 88
Lost among the Mixed Messages 91
Whether Independence Has Value — Two Cases 93
Suggest Otherwise
The EY/Ventas Affair — In the End, Who Really 93
Got Bonked?
KPMG, Herbalife s Stock Price and the Blame 95
Game
Limits on Big Audit s Ability to Innovate 96
Legal Standards and Public Expectations 99
The Big Four s Unsustainable Liability Exposure 99
Escalated Public Expectations — The Firms 101
Responsibility
Neither Regulatory Nor Market Solutions Are Viable 102
Sidebar: A Case Study — Standard Poor s in the Gunsights 103
III. A Taxonomy of the Non-Solutions 111
Preface: The Auditors — Missing from the Financial Crisis 1 1 1
The Unachievable Magic Bullets 1 1 3
Insurance — To Save the Auditors 1 1 3
Catastrophe Bonds for Auditors — An Idea That 1 16
Refuses to Stay Dead
Government-Backed Insurance as a Trade-Off 1 1 8
The Auditors Own Financial Resources — 121
Insignificant Protection
Government Involvement with Big Audit 1 24
Could a Government Agency Assign Publicly 1 24
Financed Audits?
Audit by Government — More Heat in the 1 28
Kitchen — And Less Light
If the Banks Were Nationalized — Why Not the 1 3 1
Auditors?
Unified Structures — Could the Big Four Think Local, 1 34
But Act Global?
Outside Capital — What Money Can t Fix 1 37
Forensic Audits to Detect Fraud 1 39
Joint Audits — Nobody s Answer 143
Naming the Audit Partners — Will a Red A Really 145
Matter?
Leadership Replacement to Save a Collapsing Firm — 149
A Nonstarter
A Useful New Auditor s Report? The Current Initiatives 1 52
Lack Real Promise
The PCAOB s Eventual Game Change 153
Proposal — Only Small Change
Can Value Be Brought Back to the Auditor s 156
Report — A Tale of Two Systems
The Future May Be Arriving — At Least in the 158
United Kingdom
Limitations of Liability 161
Pervasive Hostility — The Futility of the Entire Effort 1 61
The Political Dynamics — Summarized 1 62
As for the Legal Environment — Legal Systems 1 64
Compared
Mandatory Auditor Replacement — Rotation or Tender 174
The Usual Themes and the Unexamined Theories 1 76
When the PCAOB Chairman Revived an Old Idea 1 80
The Arguments in Favor of Mandatory Rotation 1 82
Auditor Replacement as a Sanction Could Better Be 1 85
Case-By-Case
Auditor Rotation Prohibition — HR 1 5ó4 s Bump in 1 8Ó
the Road to Nowhere
How The British Went Jheir Own Way 1 87
The Rotation Environment in Europe 191
The Acts and Attitudes of the Players in Big Audit 207
The SEC Settlement with the Big Four — A Chinese 208
Puzzle That Missed Some Key Pieces
Sarbanes-Oxley Itself — Its First Ten Years, the Years 21 1
Since and Counting
The PCAOB Asked Auditors an Unanswerable 214
Question — Do Company Controls Work ?
Epidemic Levels of Audit Deficiencies — IFIAR and the 21 7
PCAOB Overplay a Hand
The EC s 2010 Green Paper — The Bureaucrats 220
Add Little
Instead of EU Reform — Commissioner Barnier s Further 223
Efforts
Disintegration — The Big Four Tell the House of Lords, 22Ó
We Don t See That on the Horizon
And Then Everyone Went for Tea 229
Deloitte s Audit Ban in Saudi Arabia — The Potential for 23 1
Global Effects
As for the Views of the Issuers Lobby 234
Audited Financial Statements for the Big Four — 237
Should the Cobbler s Barefoot Children Have Shoes?
Consulting — A Plausible Exit Strategy? 241
Sidebar: What If? A Contra-Factual 243
The Future Belongs to Big Data — The Challenges Will 245
Be Enormous
Introduction: The Speed and Scope of the 24Ó
Changes
The Machines Will Audit Faster, Smarter and Cheaper 248
Cognitive Technology s Accelerating Learning Rate 252
As for the Large Firms Business Model 254
Meanwhile, the Regulators Are Not On Board 256
To Conclude 258
V. The Uncertain Future of the Big Four 263
Introduction — What Could Be the Future? 263
Medical Checkups and Annual Audits — If Your Doctor 266
Reported Like Your Auditor
What Should Be in the Auditors Report — Would Users 268
Know When They Saw It?
The Value of Today s Audit Report — Military History s 269
Metaphor for Expensive, Obsolete and Irrelevant
And What a Truly Useful Report Might Say 271
Delivering a Tailored Report 276
Roguery at UBS Provides a Teaching Moment 278
The Attributes of a Differentiated Assurance Report 28 1
Recapping the Prescription — A Dose of Real 283
Medicine
Audit Quality and Failure Study — A Modest 285
Proposal
Examples in Other Sectors 287
A Vacuum of Opportunity 288
Structure and Operations 289
Benefits and Support 291
Federal Charters for Accounting Firms and Their 292
Personnel — A Blank-Page Approach
Conclusion 301
Appendices 303
Timeline: An Abbreviated History — The Origins of the Big 305
Eight, and How They Shrank to Four
Glossary — Abbreviations, Acronyms and Cast of Central 309
Characters
Note oìì Sources
Ihanks and Adnowledgments
Abouf thè Author
Index
317
323
|
| any_adam_object | 1 |
| author | Peterson, Jim |
| author_facet | Peterson, Jim |
| author_role | aut |
| author_sort | Peterson, Jim |
| author_variant | j p jp |
| building | Verbundindex |
| bvnumber | BV044302373 |
| classification_rvk | QQ 510 |
| ctrlnum | (OCoLC)1002235599 (DE-599)BVBBV044302373 |
| discipline | Wirtschaftswissenschaften |
| edition | Second edition |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01772nam a2200397 c 4500</leader><controlfield tag="001">BV044302373</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20190731 </controlfield><controlfield tag="007">t|</controlfield><controlfield tag="008">170509s2017 xx a||| |||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9781787147010</subfield><subfield code="9">978-1-78714-701-0</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1002235599</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV044302373</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-N2</subfield><subfield code="a">DE-384</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QQ 510</subfield><subfield code="0">(DE-625)141977:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Peterson, Jim</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Count down</subfield><subfield code="b">the past, present and uncertain future of the big four accounting firms</subfield><subfield code="c">by Jim Peterson</subfield></datafield><datafield tag="250" ind1=" " ind2=" "><subfield code="a">Second edition</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">United Kingdom</subfield><subfield code="b">Emerald Publishing</subfield><subfield code="c">2017</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">xviii, 333 Seiten</subfield><subfield code="b">Illustrationen</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Wirtschaftsprüfungsgesellschaft</subfield><subfield code="0">(DE-588)4190069-8</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Dienstleistung</subfield><subfield code="0">(DE-588)4012178-1</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Wirtschaftsprüfungsgesellschaft</subfield><subfield code="0">(DE-588)4190069-8</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2="1"><subfield code="a">Dienstleistung</subfield><subfield code="0">(DE-588)4012178-1</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Online-Ausgabe</subfield><subfield code="z">978-1-78714-700-3</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Online-Ausgabe, EPUB</subfield><subfield code="z">978-1-78743-011-2</subfield></datafield><datafield tag="787" ind1="0" ind2="8"><subfield code="i">Überarbeitung von</subfield><subfield code="a">Peterson, Jim: Count down</subfield><subfield code="d">2015</subfield><subfield code="k">Studies in the development of accounting thought ; volume 19</subfield><subfield code="z">978-1-78560-581-9</subfield><subfield code="w">(DE-604)BV043198433</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">Digitalisierung UB Augsburg - ADAM Catalogue Enrichment</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029706217&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="259" ind1=" " ind2=" "><subfield code="a">2</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-029706217</subfield></datafield></record></collection> |
| id | DE-604.BV044302373 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T17:59:19Z |
| institution | BVB |
| isbn | 9781787147010 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-029706217 |
| oclc_num | 1002235599 |
| open_access_boolean | |
| owner | DE-N2 DE-384 |
| owner_facet | DE-N2 DE-384 |
| physical | xviii, 333 Seiten Illustrationen |
| publishDate | 2017 |
| publishDateSearch | 2017 |
| publishDateSort | 2017 |
| publisher | Emerald Publishing |
| record_format | marc |
| spellingShingle | Peterson, Jim Count down the past, present and uncertain future of the big four accounting firms Wirtschaftsprüfungsgesellschaft (DE-588)4190069-8 gnd Dienstleistung (DE-588)4012178-1 gnd |
| subject_GND | (DE-588)4190069-8 (DE-588)4012178-1 |
| title | Count down the past, present and uncertain future of the big four accounting firms |
| title_auth | Count down the past, present and uncertain future of the big four accounting firms |
| title_exact_search | Count down the past, present and uncertain future of the big four accounting firms |
| title_full | Count down the past, present and uncertain future of the big four accounting firms by Jim Peterson |
| title_fullStr | Count down the past, present and uncertain future of the big four accounting firms by Jim Peterson |
| title_full_unstemmed | Count down the past, present and uncertain future of the big four accounting firms by Jim Peterson |
| title_short | Count down |
| title_sort | count down the past present and uncertain future of the big four accounting firms |
| title_sub | the past, present and uncertain future of the big four accounting firms |
| topic | Wirtschaftsprüfungsgesellschaft (DE-588)4190069-8 gnd Dienstleistung (DE-588)4012178-1 gnd |
| topic_facet | Wirtschaftsprüfungsgesellschaft Dienstleistung |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029706217&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT petersonjim countdownthepastpresentanduncertainfutureofthebigfouraccountingfirms |