Audit firms and oligopolies

In this HBS working paper, the oligopoly situation of audit firms is discussed  http://hbswk.hbs.edu/item/7177.html?wknews=04172013

KPMG resigns as auditor from Herbalife and Skechers

This is the result of a rogue audit partner (since dismissed) who shared information with others, who used it inappropriately for trading.   As a result of this news, stock in both companies was temporarily halted in trading.  Both Herbalife and Skechers are seeking new auditors and may feel pressure to get their audits complete in a timely fashion.
http://accounting.smartpros.com/x74749.xml

PCAOB undecided on naming engagement partners

This article addresses the current status of this topic that garnered many comment letters when it was first aired.   The organization may issue a new proposal... http://www.complianceweek.com/pcaob-undecided-on-naming-engagement-partners/article/289288/