Where Do Clients Go when an Accounting Firm Goes Bankrupt?: The Case of Laventhol & Horwath |
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| Authors: | CHARLES W WOOTTON STANLEY D TONGE |
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| Institution: | Charles;W. Wootton is an Associate Professor of Accounting at Eastern Illinois University —Duluth. Stanley;D. Tonge is an Associate Professor of Accounting at the University of Minnesota —Duluth. |
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| Abstract: | A chronicle is provided of some of the significant events in the life and death of the seventh-largest accounting firm in the United States, Laventhol & Horwath (L&H). In examining the success of individual firms in acquiring L&H's large audit clients, we ascertain whether Big Six firms were the beneficiaries of L&H's demise. A by-product of this examination is that public accounting firms should be wary of growth, per se . Specifically, more attention to their client selection standards is needed. |
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| Keywords: | Accountants Accounting firms Bankruptcy |
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