Earlier this year, the Big Four accounting firms — PwC, Deloitte, EY, and KPMG — admitted to hundreds of violations related to auditor independence in accordance with new disclosure rules in the US.
These breaches included financial and employment relationships that could have compromised audit integrity. PwC reported 129 violations affecting 74 clients in 2022. Deloitte identified 129 breaches across 78 clients in 2022, with another 107 in 2023. EY, for its part, found independence issues in 3% of its 2022 audits.
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