close

Practice

Business

Tax

Technology

Regulation

Resources

Rankings

Advertise With US

    Information

    Big Five fined £1.4m for anti-competitive practices

    Big Five fined £1.4m for anti-competitive practices

    Authorities in Italy have fined the Big Five accountancy firms a total of £1.4m for anti-competitive practices between 1991 and 1998.

    Author Date published February 22, 2000 Categories

    The competition authority said it was fining Ernst & Young, PricewaterhouseCoopers, Deloitte Touche Tomatsu, KPMG and Arthur Andersen for ‘consistently distorting market competition in Italian accountancy services’, the Financial Times reported today.

    The authority said in particular that the firms had standardised prices and co-ordinated to win clients.

    All the firms admitted the charges, which the authorities said they had taken into account when calculating the fines.

    Audit independence rules force world’s largest firm to split

    Share

    Subscribe to get your daily business insights

    Get the latest analysis and reports delivered to your inbox daily

    Resources & Whitepapers

    Resources & Whitepapers

    The importance of UX in accounts payable: Often overlooked, always essential
    AP

    The importance of UX in accounts payable: Often overlooked, always essentia...

    1m Kloo

    The importance of UX in accounts payable: Often ov...

    Embracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...

    View article
    The power of customisation in accounting systems
    Accounting Software

    The power of customisation in accounting systems

    2m Kloo

    The power of customisation in accounting systems

    Organisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...

    View article
    Turn Accounts Payable into a value-engine
    Accounting Firms

    Turn Accounts Payable into a value-engine

    3y

    Turn Accounts Payable into a value-engine

    In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

    View resource
    8 Key metrics to measure to optimise accounts payable efficiency
    AP

    8 Key metrics to measure to optimise accounts payable efficiency

    2m Kloo

    8 Key metrics to measure to optimise accounts paya...

    Discover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...

    View article

    Related Articles

    Figures reveal ‘enormous’ rise in firms choosing accountancy outsourcing as industry faces ‘pivotal’ moment
    Consulting

    Figures reveal ‘enormous’ rise in firms choosing accountancy outsourcing as...

    3w Rachael King

    Figures reveal ‘enormous’ rise in firms choosing a...

    Global spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...

    View article
    Deloitte announces scale back of regional deal advisory services
    Big Four

    Deloitte announces scale back of regional deal advisory services

    2m Idris Nagri

    Deloitte announces scale back of regional deal adv...

    Following a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...

    View article
    Dow Schofield Watts broadens services to provide fractional support to senior leaders
    50+50

    Dow Schofield Watts broadens services to provide fractional support to seni...

    2m Rachael Kennedy

    Dow Schofield Watts broadens services to provide f...

    UK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...

    View article
    The rise and fall of EY's Project Everest
    Big Four

    The rise and fall of EY's Project Everest

    2m Idris Nagri

    The rise and fall of EY's Project Everest

    EY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...

    View article
    Accountancy Blueprint: A guide to pivoting to a consultancy model
    Consulting

    Accountancy Blueprint: A guide to pivoting to a consultancy model

    4m Idris Nagri

    Accountancy Blueprint: A guide to pivoting to a co...

    Transitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...

    View article
    Transformation Framework: Shifting to a consultancy model
    Consulting

    Transformation Framework: Shifting to a consultancy model

    5m Idris Nagri

    Transformation Framework: Shifting to a consultanc...

    This framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...

    View article
    To split or not to split, that is the question
    Audit

    To split or not to split, that is the question

    5m Idris Nagri

    To split or not to split, that is the question

    Looking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...

    View article
    Mid-tier advisory services see growth amid Big Four cuts
    Accounting Firms

    Mid-tier advisory services see growth amid Big Four cuts

    11m Greg Noble

    Mid-tier advisory services see growth amid Big Fou...

    Last month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...

    View article