American Ethics

Discussion in 'Politics' started by AugustaGator, Aug 15, 2019.

  1. AugustaGator

    AugustaGator Junior Member
    Lifetime Member

    Jun 12, 2014
    +7,508 / -244
    Companies Appear to Avoid Hiring Auditors With a History of Critical Audits, New Research Shows

    Audit firms, on average, suffer a drop in future client growth and revenue growth after detecting a material weakness in a company’s financial reporting, according to a study of more than 350 U.S. audit firms over 13 years.

    The study tracked the issuance of “internal control material weaknesses,” or ICMWs, which are critical of management, from 2004 to 2016. If a regional office of an audit firm issues a single ICMW, for example, it leads to a 2.5% lower growth in the number of clients and an 8% decline in year-over-year revenue for that office, the study found.

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