The dominance of the Big Four in traditional accounting work is expected to give a boost mid-tier rival BDO Stoy Hayward as it secures restructuring work they are unable to take on, according to Simon Michaels, BDO managing partner.

He told the Financial Times it was more likely the Big Four would find conflicts with their regular work, such as audit or advisory, for struggling companies, leaving his group to pick up the pieces.

BDO has taken on the administration of Dawnay Day, the property and financial services group, and the independent valuation of Northern Rock, the nationalised bank, which are among its biggest projects.

'We find ourselves less conflicted than the Big Four so I can only see it going one way with us getting more of the work,' he said.

Further reading:

Read the Financial Times story