MID-TIER FIRMS’ international chiefs have issued a joint plea for radical reform of the audit market.
The heads of BDO, Grant Thornton, Mazars and RSM International have asked European Union markets commissioner Michel Barnier (pictured) to maintain his stance for wide-sweeping changes to the audit market.
His plans to force through joint audits, mandatory rotation and split up the firms into “audit-only” are expected to be watered down, reports the Financial Times. After intense lobbying from the firms and other business representatives, Joint audit is likely to be dropped, while firms could be blocked from selling consultancy work to clients.
Grant Thornton International chief executive Ed Nusbaum said the early draft proposals were more favourable. “We believe that the proposals coming out of the commission benefit investors,” he said.
Dennis Layton takes up the position on April 1 and will contribute to the firm’s goal of becoming the leading global professional services organisation by 2020
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'
Stephen Mills joins the Manchester office from IBM, where he spent 12 years as an associate partner in the data, analytics and cognitive consulting group