Big Four firms to alter French operations
Big Four firms PwC and Deloitte & Touche are considering altering their French operations in response to new legislation in the country that limits non-audit work for audit clients.
Link: France set to impose auditor restrictions
Both firms are currently examining the possibilities of significant restructuring to the way in which their business operates in France as the French government seeks to introduce tough new laws in the wake of accounting scandals such as Enron and Worldcom, according to the FT.
KPMG has already said that it is to sever all ties to its sister law firm in France although Ernst & Young has hinted that it would be reluctant to do the same.