A spokesman told Accountancyage.com: ‘We do have concerns if you have a Big Four – it would be damaging to competition and, perhaps more importantly, for choice of global accounting firms.’
He added: ‘We warned about this situation when Price Waterhouse merged with Coopers & Lybrand.’
Although the FSA does not have regulatory powers over auditing, the accountancy profession and the government will have to take its views very seriously before allowing the merger to go ahead.
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
Six new partners have been revealed by top ten firm Mazars