PracticeAuditFTSE 100 auditors scoop £250m in non-audit fees

FTSE 100 auditors scoop £250m in non-audit fees

FTSE 100 audit firms pick up £250m in non-audit fees

Auditors earned more than half a billion pounds on their statutory work for
the FTSE 100 – and another quarter of a billion pounds on non-audit work.

The figures, from
Ineum
Consulting
, have raised questions about the firms’ independence.

Liberal Democrat
Treasury spokesman Vince Cable said more competition was required for the Big
Four firms, and if “Chinese walls” were failing to work within them then the
Office of Fair Trading should consider an enquiry.

Conservative
shadow business minister Mark Prisk said transparency was key to
ensure there was no conflict of interest – which was preferable to heavy-handed
regulation.

Further reading:

Shareholder
revolt against FTSE 100 exec pay

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