Rotation of auditors should be good for the accounting profession and good for the public interest. KPMG (formerly Peat Marwick Mitchell) has been the "independent accountant" for General Electric for over 100 years. Deloitte & Touche has been the "independent accountant" for General Motors for over 85 years - those facts speak for themselves.

PricewaterhouseCoopers audits 670 companies listed on the New York Stock Exchange. Ernst & Young audits 618 companies listed on the New York Stock Exchange. Deloitte & Touche audits 561 companies listed on the New York Stock Exchange. KPMG audits 424 companies listed on the New York Stock Exchange. The Big Four audit over 97 percent of the 2,341 companies listed on the New York Stock Exchange.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access