Have Our Nation's Auditors Become too Big to Fail?

Have our auditors become too big to fail? For more than ten years articles and op-eds are released in the financial and business press arguing the point that the auditing, currently dominated by Deloitte & Touche, Ernst & Young, KPMG, and PwC, has gradually become completely dominated by a handful of powerful players, further insulating them from the consequences of failure.