AP$1\mathrm{.}4.($LO $3,4)$ Big $4$ versus non$-$Big $4$ assurance providers Economic changes can affect how clients select their assurance providers.

Required

In times of economic recession, would you expect the demand for audits to increase or decrease?

Would you expect clients to shift from large $($Big $4)$ auditors to mid$-$tier auditors, or from mid$-$tier auditors to Big $4$ auditors in times of economic recession? Why or why not?