O papel das Big Four na auditoria de empresas listadas na B3: uma análise a partir de escândalos corporativos e da evolução normativa

Abstract

This study critically analyzes the role of the Big Four in the audit of companies listed on B3 (Brazilian stock exchange), considering recent corporate scandals and regulatory evolution in Brazil. The research questions the limits of independent auditing, even when performed by large firms, in the face of crises that have shaken investor confidence. The methodology is qualitative, of bibliographic and documentary nature, with exploratory and descriptive character. The study is based on a literature review of auditing, corporate governance and agency theory, as well as analysis of regulations, reports and sanctioning proceedings. Four emblematic cases of B3 companies that faced relevant crises, even when audited by large firms, were examined. The results show that, although auditing reduces information asymmetry, its performance is not sufficient to prevent failures when there are weaknesses in governance and internal controls. The analyzed cases show impacts such as stock devaluation and reputational damage, reinforcing the structural limits of auditing as an isolated mechanism. It is concluded that trust in Big Four audits should be cautious, with the integrated action of other governance mechanisms and regulatory supervision being essential. As a contribution, the study proposes a questionnaire for institutional investors, aiming to support future research on risk perception and the influence of audit reports on decision-making processes.