The UK's accountancy watchdog has unveiled changes to guidance for audit committees to take forward its project to open up the audit market.
The Financial Reporting Council is concerned by the dominance of the Big Four, and has proposed a series of changes to the way in which the market operates.
It released a consultation document today on changes to guidance for audit committees, which redrafts current guidance in the light of the recommendations of the Market Participants' Group, the body tasked by the FRC with taking forward the audit choice debate.
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