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Would you expect demand for audits to increase or decrease

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Question - Most of the global fortune 5000 companies are audited by Big 4 accounting firms (Deloitte, E&Y, KPGM and PwC). Economic changes can affect how clients select their assurance providers.

Required -

1. In the time of economic hardship or recession, such as COVID-19, would you expect the demand for audits to increase or decrease?

2. Would you expect clients to shift from big 4 auditors to mid-tier auditors, or from mid-tier auditors in times of economic recession? Why or why not?

Reference no: EM132816947

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