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Report on Comparison Between 2 Audit Company

   

Added on  2020-06-06

8 Pages1827 Words71 Views
Research on ‘Big 4’ and ‘non-Big 4’ audit firms

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1COMPARISON BETWEEN TWO AUDIT FIRMS.......................................................................1Range of services....................................................................................................................1Geographic coverage .............................................................................................................1Staff strength and specialised services offered by companies................................................2Industry of specialisation........................................................................................................2Publications by both companies.............................................................................................2Marketing message.................................................................................................................2Busy season............................................................................................................................2Responsibilities ......................................................................................................................2Money.....................................................................................................................................3Pick up tax return....................................................................................................................3RECOMMENDATIONS ............................................................................................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5

INTRODUCTIONBig four audit firms are known for their services in taxation, accounting and advisory.They earn billions of dollars as revenue and most of the companies, listed in FTSE 100, choosethem for the purpose of auditing (Duff, 2011). This report will discuss about various differencesbetween a 'Big 4 audit firm' and a ' non big 4 audit company'. Own recommendation are alsogiven for more detail knowledge and to get clear idea on subject matter.COMPARISON BETWEEN TWO AUDIT FIRMSMead Partners is a medium sized audit company that was established in the year 1997and they have captured a significant amount of share in Australian market (More PLCs turningto mid-tier auditors, 2017). EY, on the other hand, is one of the oldest and most successfulcompanies of auditing. In the present scenario, they are holding number one spot among 'bigfour'. Range of servicesE&Y offers basically four types of services. First is assurance that includes financialaudit, advisory for resolving dispute and avoiding fraud (Arens, Elder and Mark, 2012). Workrelating to tax can be considered as their second service. They focus on transferring pricing andvarious types of taxation. Third facility, which they provide to their clients, is regardingadvisory. It concentrates on different types of risks like IT and actuary that has also become itssignificant part. Assistance in raising capital and finding right source of investment is the lastservice that E&Y delivers in the market. Mead Partners also work in the same field and theyprovide similar services to their customers but at a small level (Francis, Micha and Yu, 2013).Their main focus is on business accounting and SMSF advising. Also, they provide assistance tomany start-ups as they face issues relating to strategic management. Geographic coverage E&Y is operating in almost 150 countries and they have around 700 offices. MeadPartners is working in Melbourne and Victoria. Given before were its headquarter. 1

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