The investigation was announced by the EU’s commissioner for internal markets
and services, Charlie McCreevy, during a speech on audit liability this week.
‘The aim is to explore how smaller audit networks or firms could be given
better access to the blue chip audit market – for the benefit of competition,
companies and investors,’ said McCreevy.
His spokesman Oliver Drewes said that questions around why there were so few
firms capable of auditing the largest corporations had become more prolific.
‘We need to research this to find out whether it is a question of liability
or skills,’ said Drewes. ‘The study will deal with a number of these issues and
will follow after the report on auditor liability is released, in the next few
‘We were bound to do a study like this as well,’ Drewes said. ‘We will have
to advertise for this, and an independent panel will then decide who is most
suitable to do this study.’
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