A new audit era: Big Four must account for themselves in CMA shakeup
- Pages: 14
- Published: March 2019
- Report Code: ML00030-016
Accounting has been marred by a wave of failures, and in the wake of this the UK Competition and Markets Authority (CMA) has conducted a review of the market. A range of proposals have been put forward to combat challenges within the industry, in which the four largest auditors dominate and multiple barriers to entry prevent challenger firms from gaining a foothold. Concurrently, accounting as a discipline looks less and less effective at accurately reflecting modern businesses, and the field looks ready for reform.
Key Highlights
– Provides an outline of a number of recent financial accounting scandals: Carillion, Capita, Mitie
– Provides summary of recommendations from ongoing Competition and Markets Authority review
– Outlines potential future four statutory audit market, given ongoing competitive review and changes in accounting practises.
Scope
– Provides analysis of recent accounting scandals
– Provides summary of an ongoing Competition and Market Authority review into the statutory auditing market
– Evaluates likely impact of Competition and Market Authority review into statutory audit market – what is the future of the Big Four?
Reasons to buy
- What is the future of the Big Four?
- How will the statutory audit market change in the future?
Table of Contents
List of Figures
Pricing
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