FRC to kick-start ownership debate

The regulator is to announce moves this week to invite debate on the
ownership of accountancy firms in an effort to increase choice in the audit
market, to prevent a crisis if one of the large firms should fail.

The announcement will come with a progress report by the Financial Reporting
Council on its project to improve competitiveness.

The FRC is also expected to announce plans to get prove equity funds and
large unquoted companies to help foot the regulator’s £12m annual budget, with
an extension of levies to quoted AIM and Plus market companies.

Further reading:

audit firm ownership could stimulate growth

champions relaxed ownership

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