Big Four earnings grow from regulator action

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Millions are set to be earned by the Big Four firms because the Financial
Service Authority has turned to external advisers to help monitor the management
of City institutions.

The Times reports the fees are earned through the FSA commissioning
‘skilled persons reports’ and that the work has increased five-fold this year.

The reports are paid for by the banks, or other financial institutions, after
being compelled to commission them by the City watchdog.

The Times says that many of the reports focus on the conduct and
competence of management.

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