DTI report: OFT to watch Big Four

Link: Read the full report on Hewitt’s speech

According to the Final Report from the Co-ordinating Group on Audit and Accounting Issues the market for auditing and accountancy has become ‘highly concentrated’ and increasingly global.

There is also concern that little appears open at a national level to deal with any competition issues.

Last year the European Union’s Competition Commission cleared the absorption of Andersen into Deloitte following the Enron and WorldCom corporate disasters.

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