You are always so cynical of the Big 4, and sometimes rightly so, but do you currently have a better solution? Do you think firms are out there doing it better than the Big 4?
CHÄS CHÜECHLI from KPMG
Even though I have a lot of opinions, I am not responsible for finding a solution. I will propose my solution in my book, but the purpose of the blog is to get people talking. I think the audit industry is an unexamined industry, with a unique business model, and a special place in the capital markets structure. Very few people, even business people, understand the firms’ full influence, role, and responsibilities. I had a debate a few weeks back with someone who blamed McKinsey for Enron’s issues. Blame Enron management, for sure. But don’t blame a paid consultant. He could not understand, comprehend AA’s role/responsibility beyond being a paid consultant. It’s a shame.
So, I found a niche that needed coverage and that happily coincides with my interests and aptitude. I get thousands of page views a month from all the Big 4 firms, their clients, regulators, other consulting firms, law firms, etc. from all over the world. It’s pretty neat. My criticism is usually focused on the Big 4’s senior management and it’s across the board.
Be glad to talk anytime live.