The mid-tier firm quoted its own research which found that in the world’s
eight largest economies, the Big Four are responsible for up to 99% of large
public company audits.
‘By failing to select non-Big audit firms, the world’s largest public
interest entities have, in recent years, fed a systemic risk inherent within
international capital markets which is now so pronounced that in the event of
the Big Four becoming a Big Three, international markets could fall into
disarray,’ claimed Steve Maslin, head of external professional affairs at Grant
Analysis of auditor concentration among the
economies revealed a high of 99% in Italy, followed by the UK (98%), the US
(97%), Canada (96%) and Russia (90%). Japan revealed a lower auditor
concentration of 84%.
UK senior partner Phil Verity has been elected for a second term at Mazars
An audit partner has been appointed at Grant Thornton in its North West offices
KPMG has been appointed with “immediate” effect as the auditor of Dorcaster
The audit for Ibstock will be taken over by Deloitte following a competitive tender process