should the world worry about mixing audit and consulting?
amid concerns among lawmakers worldwide that the audit function was being diluted by consulting, deloitte touche tohmatsu is reporting $31.3 billion in worldwide revenue for the year ended in may, an 8.6% advance for the year and the firm’s strongest increase since 2008.
the revelations drew some sharp reactions. “it is hardly news that the big four accounting firms get bigger nearly every year,” says the economist. “but where they are growing says a lot about how they will look like in a decade, and the prospects worry some regulators and lawmakers.”
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