The Big Four in Europe and the eighth directive

The eighth directive has been described as the European equivalent of
Sarbanes-Oxley.

A set of rules about auditing and company law, the directive has so far had
one very different impact – providing the impetus for
KPMG‘s merger with its German firm.

The rules are set to impact on the profession in less positive ways, however.
There are provisions that will force regulators such as the UK’s
Financial Reporting Council to send
inspectors abroad to inspect foreign audits.

The profession will be watching closely as the directive and its implications
become better and better understood.

Here are the latest stories:

German move blazes trail for the Big Four
Once the shock of KPMG’s Anglo-German merger passes, rivals may treat it as a
model.

Europe beckons for Big Four as KPMG pulls
off shock merger
The Big Four look set to be transformed by a wave of European mergers, after
KPMG stunned the industry by announcing a tie-up with its German member firm.

Network crisis for small firms
Accounting networks of small firms may have to decide whether they really want
to operate in that way or be forced to disband.

‘No job losses’ in KPMG euro-merger
Merger with European firm will not result in any job losses, firm says

KPMG seeking further EU mergers
KPMG may be looking to merge with other European firms after announcement of
German proposal, firm says.

KPMG to create £2bn European audit giant
UK and German merger to create biggest single firm in Europe.

International rivals trump UK
Europe and US see greater merger and acquisition activity in new markets.