Small fish swimming against the tide
Friday, March 16, 2018
The smaller auditing firms are the proverbial small fish swimming in a big pond, except this particular pond is crocodile-infested.
The local auditing market is dominated nearly entirely by the Big Four: PwC, KPMG, Deloitte and Ernst & Young, while at least 30% of the 22 small firms are reported to be at risk of collapse.
The fees have been doubled from the previous amounts and raise concerns about political participation accessibility and democratic representation principles.This significant fee increase prompts questions regarding its impact on grassroots democracy.On one hand, the fees act as a filter, ensuring only serious contenders enter the race, potentially reducing frivolous candidacies and generating crucial campaign funds. The BDP argues that aspiring...