Senator Chuck Schumer's attempt to lean on the Big Four accounting firms about taking a less rigorous approach to mortgage accounting standards so that their clients can renegotiate bad loans. Now, auditors are supposed to be independent gatekeepers and politicians should not be putting them under any pressure.
Do the Big Four help their clients dodge tax by shifting their money into offshore havens? You bet, and they do it big time, according to a new report.
Worrying news for the Big Four. Plagued by a serious shortage of accountants since the Cultural Revolution, China aims to develop at least 10 accountancy firms to cut reliance on the likes of PwC, KPMG, Deloitte and Ernst & Young.
