TS WAS INTRIGUED to see that PwC had issued a comment over losing the BG Group audit to E&Y.
‘That’s an unusual thing to do’ was the gist of comments from within the bowels of TS Towers yesterday afternoon.
In fact, firms don’t seem to like any attention even when they win audit contracts. They don’t like talking about clients, you see. What a boring lot.
So here’s what James Chalmers, PwC’s UK head of assurance, said: “We operate in a fiercely competitive market where all participants win and lose audits. We are committed to delivering high-quality audits for the benefit of our clients and their shareholders.”
And then it became clear to TS. What message is PwC (along with the other Big Four firms) trying to push out? That the market is competitive enough without those nasty Competition Commission or EC bods sticking their noses in.
Hence, PwC’s comment. TS isn’t just a pretty face, you know.
Given the events of the past week as we enter new territory our SMEs now more than ever need the support of their accountants, writes Bobby Lane
The Financial Reporting Council has launched an investigation into the conduct of the Big Four firm in relation to its audit of BHS
The FRC says it best when it says nothing at all
Audit competition will drive many changes, but increased audit quality is extremely questionable