The Four Categories for Describing the Size of Audit Firms

Multiple Choice

The four categories for describing the size of audit firms include: the Big Four international firms; national firms; regional and local firms; and small firms.Which of the following is not a characteristic of a small firm?

A) Most have fewer than 25 professionals.
B) They perform audits on small and not-for-profit businesses.
C) Tax services are more important to their practice than auditing.
D) They do not audit publicly traded companies.