Will the big four survive the credit crunch?
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Title: Will the big four survive the credit crunch?

Essay Details:

Subject: Business
Author: Patricia M
Date: September 12, 2016
Level: University
Grade: A
Length: 4 / 1063

Essay text:

The (UK) Financial Reporting Council (FRC) has been trying ever since to make sure that the Big Four will be protected if found guilty of similar negligence. The introduction of limited liability should help, but given the accelerating meltdown of the global financial system, will it be enough? As always, and as was the case with Arthur Andersen, it will be events in America that determine the fate of the Big Four. This summer the U.S. Treasury's Advisory Committee of the Auditing Profession met in Washington and heard that between them the six largest firms had 27 outstanding litigation proceedings against them with damage exposure above $1 billion, seven of which exceed $10 billion...

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