An estimated 5% of U.S. audit work is now done in India, up from just 1% to 2% five years ago, and the move is creating concerns about the oversight of that work, Reuters reports. According to the story, U.S. regulators do not do physical inspections of worksites in India, but the Big 4 audit firms say the work done in India is reviewed in the U.S. The Big 4 firms also say the work done in India is routine, but others argue that the offshore centers are taking on more complex work.
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