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First of all, Thank you for the reply on the previous post!
Secondly, what if the firm has different branches across the world?
For example: Deloitte or PwC or KPMG or E&Y.
In that case, will the audit report be signed from the branch manager or the audit report will be transferred to their head office in another country where it will be signed off?
Because branch would be owned by partners who are situated in the head office right?In the big 4 I understand that the firm is operated along the lines of a franchise
In the country where I lived for 10 years until recently, there were local offices of all the big 4
There were local partners in these firms and there were district partners
For example, say I was a partner in a big 4 firm based in Madrid
That doesn’t make me a revenue / profit sharing partner of the firm world-wide (very few people reach that position!)
But I would be a revenue / profit sharing partner of the Madrid office
But possibly also a partner in The Barcelona office and the Alicante office
Both these other offices will have their own partners but maybe I’m the only one that shares in the profits of all three
In order to maintain the quality of the services offered by those firms that carry the names (and therefore also the reputations) of the big 4, regular quality control visits are paid to these offices by partners from other cities / other countries
But it’s only (one of) the partners of the office from which the audit has been carried out that will sign the audit report of a client of that office
Clear?
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