THE POWER AND THE GLORY OF BIG 4: A RESEARCH NOTE ON INDEPENDENCE AND COMPETENCE IN THE CONTEXT OF IFRS IMPLEMENTATION

Cătălin Nicolae Albu · Nadia Albu · Szilveszter Fekete Pali‐Pista

12 citations0/0 files storedRePEc: Research Papers in Economics

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Auditing, Earnings Management, Governance Accounting Theory and Financial Reporting Accounting and Financial Management

Abstract

One of the major roles in promoting accounting convergence is played by big accounting firms (Big 4). The objective of this paper is in this context to analyze and question the role of big auditing firms in developing and implementing IFRSs worldwide, in order to better understand the convergence process. This is a research note intended to contribute to the debate on the role of auditors in general and in the context of IFRSs application in particular, to raise some questions and to identify future research directions, and to invite to reconsider the hidden aspects (both positive and negative) of apparently simple issues. We identify some questions to be addressed in the future regarding the competence of Big 4 in IFRSs, the relationship with their clients issued from this well-known competency and the associated issues of independence.

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2006Accounting, professions and regulation: Locating the sites of professionalization 1981Comparative International Accounting 2009Financial crisis and the silence of the auditors 2003How the U.S. Accounting Profession Got Where It Is Today: Part II 2009The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis 2005International Financial Reporting Convergence: Evidence from Three Continental European Countries 2005A commentary on issues relating to the enforcement of International Financial Reporting Standards in the EU 2006International Accounting Regulation and IFRS Implementation in Europe and Beyond – Experiences with First-time Adoption in Europe

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