PracticeAccounting FirmsDTI report: OFT to watch Big Four

DTI report: OFT to watch Big Four

The Office of Fair Trading is keeping the Big Four accounting firms under review amid concerns that there may be too few firms providing audit services.

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.

Related Articles

FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

Accounting Firms FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

20h Emma Smith, Managing Editor
PwC publishes 12.8% BAME pay gap

Accounting Firms PwC publishes 12.8% BAME pay gap

2d Emma Smith, Managing Editor
RSM recruits 288 trainees

Accounting Firms RSM recruits 288 trainees

5d Emma Smith, Managing Editor
PwC to audit BBC pay policies following gender pay gap outrage

Accounting Firms PwC to audit BBC pay policies following gender pay gap outrage

2w Alia Shoaib, Reporter
Partner moves from EY to Smith & Williamson

Accounting Firms Partner moves from EY to Smith & Williamson

2w Alia Shoaib, Reporter
Deloitte global revenues hit record $38.8bn

Accounting Firms Deloitte global revenues hit record $38.8bn

6d Emma Smith, Managing Editor
KPMG’s apprenticeship intake jumps to 181 in 2017

Accounting Firms KPMG’s apprenticeship intake jumps to 181 in 2017

1w Emma Smith, Managing Editor
284 new trainees join BDO

Accounting Firms 284 new trainees join BDO

2w Alia Shoaib, Reporter