Why Auditors Resign
Ever wonder why an auditing company would divorce a client?
Here's what John O'Connor, vice chairman of services at PricewaterhouseCoopers, had to say in early May of 2004
at a forum on auditor independence this week at NYU's Stern School of Business.
O'Connor gave the three primary reasons why his firm resigns as an auditor.
- A failure of the company to manage risk properly
- Lack of profitability for PwC
- Dissatisfaction with how PwC personnel are being treated.
In 2003, PwC split from clients about 500 times.
source: http://www.webcpa.com.
