Senior partner at the firm, Chris Connor, said this would be the most ‘appropriate and equitable change’ ensuring that corporate governance is improved and competition in the market for auditors increased.
In a letter to the FT Connor also backed reforms based on liability being capped at a suitable multiple of the audit fee.
He said setting the liability cap at an absolute level, say £100m, would assist only a few firms and could therefore be anti-competitive in practice.
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day