“If we look at mature markets, such as Germany, France, Britain, and the U.S. also, we see that more than 90-95 percent of listed companies are audited by Big Four companies. In Romania, this percentage is much smaller, only 20-25 percent, so there is high growth potential,” KPMG Romania’s Senior Partner, Serban Toader, told Business Standard.
The fee difference between a Big Four company and other audit companies is based on reputation, quality and access to professionals.
Within KPMG Romania, audit makes up some 50 percent of turnover, while fiscal and financial advisory make some 25 percent each. “Audit was the business segment that made major global consulting companies invest in Romania. The local market will constantly ask for this type of services,” he explained.
