Big churn for Deloitte, EY, others as 984 listed firms to rotate auditors

The rotation is likely to benefit smaller audit firms as they are likely to gain new accounts vacated by the Big Four and other large firms

Big audit firms are likely to feel the most severe impact yet of rotation of auditors, mandated by the new company law three years ago, as a majority of listed companies are complying this year. As many as 984, or 58 per cent, of NSE-listed companies are rotating auditors in 2017-18, according to an estimate by Prime Database. This is close to five times the rotations recorded in the previous year. Around 206 companies saw rotation in FY17.  

The rotation is likely to benefit smaller audit firms as they are likely to gain new accounts vacated by the Big