January 20, 2019

World Class Accounting Firms Getting a World Class Action Litigation Experience

Class actions against the world's largest corporate auditing firms are spreading globally as governments bolster investor protection laws in countries where the Big Four firms have previously not faced substantial legal risks. Even as class action lawsuits dwindle in the United States due to court rulings and legislation, the number of countries allowing these kinds of suits has grown to more than 20, including recent additions Italy, Poland and Mexico. […] "Class action litigation can drive up costs to the breaking point fairly quickly," said Ed Nusbaum, head of 6th-largest audit firm, Grant Thornton International. "The U.S. firms have adjusted for this, but as class actions move around the world, there's a huge risk," he told Reuters. [Reuters]

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