Public Company Accounting Oversight Board member Steven Harris said the major auditing firms should begin providing their own financial statements to the PCAOB.
“As the major firms continue to offer more services, they have become larger and more essential to the economy,” Harris said in a speech last week at American University’s Kogod School of Business. “The Big Four in the U.S. had combined revenue for 2013 of approximately $39.8 billion, and alone audit approximately 98 percent of the U.S. market by capitalization.”
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