New Delhi, Aug. 27 -- More than 600 companies will have to change their auditors over the next four years under the Companies Act, setting in motion a once-in-a-decade shakeup that will transform India's audit market.
Apart from facing an opportunity to win marquee clients and the risk of long-held accounts slipping away, the looming upheaval has ignited a ferocious poaching war amongst top audit firms to arm themselves with the right talent for upcoming client bids and pitches.
The Big Four-KPMG, Deloitte, EY and PwC-are bulking up their audit benches with forensic analysts, tax auditors, and chartered accountants, while other rivals such as BDO and Grant Thornton, too, are angling for their share of the spoils. Senior partners have be...
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