Atlanta (Jan. 28, 2004) -- For the first time in at least a decade, all of the Big Four firms lost more public company audit clients than they acquired in 2003, while their B-level counterparts picked up a collective 21 percent of the clients lost by the Big Four, according to a report by Auditor-Trak.
PricewaterhouseCoopers suffered the biggest decline with a net loss of 91 audit clients, reducing the firm's audit client revenue by $46.4 billion and cutting its client assets under audit by $543 billion. Auditor-Trak said it considers revenue for most public company audit clients but assets for certain financial services and other investment-oriented companies.
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