European flag

10 July, 2018

Big Four accountants accused of EU tax policy ‘conflict’

A lobby group has called for the Big Four accountancy firms to be "kicked out" of the policy-forming process in Europe. Corporate Europe Observatory (CEO), a Brussels-based group whose aim is to ...
Big Four, Deloitte, KPMG, EY, PwC

9 July, 2018

Competition regulator asks Big Four to look for ways to change audit market

Reports suggest this morning that the Big Four audit firms have been asked to investigate ways of increasing the choice of auditors for companies listed in the UK. There has been pressure on the UK...
KPMG

2 July, 2018

KPMG chief concedes that public trust in audit is waning

The head of KPMG in the UK has admitted that the Big Four audit firms are losing public trust and that change will be needed. However,
KPMG, Big Four

25 June, 2018

Audit industry to face fresh “root and branch” review by UK government

The UK government is to undertake a review of the audit industry, asking whether the current model for audit is fit for purpose. However, The Times reports this morning that the government...
KPMG, audit, Big Four

19 June, 2018

Watchdog spotlights KPMG for ‘deterioration’ in audit quality

KPMG, the auditor under investigation for its work on the collapsed construction giant Carillion, has been told by the UK's audit watchdog that half its FTSE 350 audits last year required "more than j...
Big Four, PwC, Deloitte, EY, KPMG

18 May, 2018

The audit market concentration ratchet strengthens case for reform

Every few years significant concerns are expressed about the market for external audit services, which is dominated by the Big Four firms. Typically, these concerns are triggered by a corporate collap...
Big Four, PwC, Deloitte, EY, KPMG

17 May, 2018

Big Four auditors ‘prepared’ if regulators push for split

The UK’s largest accounting firms are preparing themselves for a potential breakup of their offerings. After two influential committees of MPs
Carillion

16 May, 2018

MPs call on competition regulator to review audit market post-Carillion

Auditors are under renewed pressure for change following a scathing report from a committee of MPs calling for the UK government to refer the Big Four firms to competition regulators. The call come...

9 April, 2018

Big Four auditors could face £10m fines under new sanctions

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Big Four, PwC, Deloitte, EY, KPMG

1 April, 2018

Grant Thornton’s decision throws a cloud over audit market

After a huge effort to reform the audit market with European Union legislation, it now appears that auditors and audit in the UK seem to be struck by profound uncertainty all over again. A successi...