Survey Says Dissatisfaction With Big Four Firms Growing

According to a new survey, 26.3% of CFOs and controllers have recently replaced or are planning to replace their primary audit firm―up from 18.5% two years ago. Fortune 1000 companies also now rely on four audit firms rather than three in 2011, the BTI Survey of Big 4 Client Service Performance says. “The upheaval increases competitive pressure on a daily basis,” comments Michael B. Rynowecer, president of The BTI Consulting Group. “Adding a firm drives increased competition and a considerable redistribution of dollars flowing to CPA firms.” He added that CFOs and controllers would choose PwC if forced to switch firms tomorrow. BTI interviewed 259 financial decision-makers at Fortune 100 companies for the survey. Learn more at http://www.btirankingthebig4.com.