True Partners is unlike Arthur Andersen in one crucial way: It won't perform any auditing services.
Why do I think this next-next tier firm will have a positive impact on the U.S. market for auditing services?
Adam Aronson is CEO of Arrowsight, a provider of remote video auditing services for the food processing, quick-serve restaurant and health-care industries.
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Given the ongoing, significant legal travails of all of the larger firms, Mazars represents refreshing transparency and accountability in the auditing services competitive landscape.
By abandoning this principle, standards would slip, he suggested, since private sector providers of auditing services would "not want to get a reputation for being difficult".
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In the food industry, if we use remote video auditing services to monitor employees working in these high risk areas, view what they are doing while inside, and instantly report any infractions back to management, we can greatly reduce the possibility of tainted food ever reaching a loading dock.
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The other driver: Now that accounting firms are prohibited from selling higher-margin technology consulting services to their auditing clients, auditing units have to pull more of their own weight.
SEC's attempts to restrict their sales of services such as consulting alongside auditing, which Mr Levitt saw as a possible threat to the independence of audits.
While the States had previously been required to arrange agreements with outside auditing firms to look into fee for services plans, the expansion will now require the States to retain auditors, on a percentage basis, with respect to any and all services billed to Medicaid by providers.
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Smaller rivals have claimed that the big firms use auditing as a loss-leader to promote other services.
Insurers and agents (my side) have only two choices in reacting to the 25% relative pay cut (a reduction from 20% of premium to 15% of premium is a 25% reduction): We can either reduce our services, which means less utilization review, claims auditing, agent premium negotiating, etc.
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