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Accounting Community Supports KPMG  by: Thomas Johansmeyer With the US government’s case against KPMG settled, the battered firm can refocus its efforts on its core businesses. Enabling this refocusing is a series of internal mandates that have rippled across Deloitte & Touche, Ernst & Young, and PricewaterhouseCoopers. No poaching! Leadership in each of these firms has instructed the respective partners not to take advantage of KPMG's weakened condition. There does not appear to have been any collusion between the other members of the Big Four, and smaller accountancies have supported this position. Deloitte & Touche, Ernst & Young, and PricewaterhouseCoopers agree on the importance of KPMG’s continued success. The large accounting firms have received intense criticism since the implosion of Andersen as to the lack of competition and increased concentration of service providers. The collapse of KPMG would have been problematic both for public companies and the Big Four. With audit fees already soaring as a consequence of Sarbanes-Oxley, the loss of a competitor in the Big Four would have resulted in a concentration of power that could only drive the price of audit and tax services upward. Further, the Big Four feared that the loss of KPMG would bring unwanted government intervention. About The Author Thomas Johansmeyer webmaster@big4.com is an Alumni Member and Staff Writer with http://www.big4.com. He writes articles on issues pertaining to the global Big4 firms - Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers. Tom's articles focus on latest news and happenings in Big4 Accounting, Big4 Management Consulting, Big4 Information Technology, Big4 Tax and Big4 Legal domains. This article was posted on October 07, 2005 Read More Articles from the "Legal" Category: WikiPatents Enables Community Patent Review by Kevin Hermansen What is Intellectual Property? by Stuart Simpson Fulfilling Our Basic Need of Self Protection by Bill Wallmuller A Divorce Glossary by Nathan Dawson Georgia Workers Compensation Benefits - What Kinds Of Medical Treatment Am I Entitled To? by Aaron Walter How To Protect Your Privacy by News Canada A Guide To Understanding Georgia Lemon Law by Kevin Bishop Essential Steps to Take Right after an Accident by Lala C. Ballatan Hiring a Real Estate Attorney by Michael Williams Need A Michigan Lawyer? by Morgan Hamilton << Back to "Legal" Index

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