Small and medium-sized auditing firms may wish to consider an investment in accounting software, should they hold ambitions of ever securing the industry’s largest contracts.
Leaders of several mid-sized companies in the field have spoken to the Financial Times about the need for reform.
They have urged European Union internal market commissioner Michel Barnier to go through with plans to force huge organisations to share accounting work with smaller rivals.
Currently, the majority of larger audits are completed by the “big four” – KPMG, PricewaterhouseCoopers, Deloitte and Ernst & Young.
Jean Stephens, chief executive of RSM International, said it is vital that proposals to spread the workload are not “watered down” and that Mr Barnier sticks to his initial brief.
Michael Andrew, chairman of KPMG, speaking at the Foreign Correspondents’ Club in Hong Kong, last week suggested there are ten steps that can help the accounting sector get back on track following the Olympus fraud scandal.
Source:http://www.codestone.net/news/story/could-investment-in-accounting-software-help-smaller-firms-win-large-contra/801222728/
