Subscribe to our newsletter

MPs want Big Four broken up to remove ‘cash cow’ consulting

MPs are calling for the Competition and Markets Authority (CMA) to aim for the full structural break-up of the Big Four firms into audit and non-audit businesses, along with a market cap and the use of joint audits, in order to tackle conflicts of interest, develop the market for challenger firms and increase professional scepticism

Shared by Accountancy Daily
April 03, 2019

share this article

In its report on the future of audit, the Business, Energy and Industrial Strategy (BEIS) committee is highly critical of attempts by auditors—particularly the Big Four and Grant Thornton—to paint the crisis in audit as a perception problem arising from an ‘expectation gap’.

Read more at Accountancy Daily.

100,000 businesses signed up for MTD, says HMRC

Cyber attacks increasingly target interbank payment platforms

related articles

UK budget deficit hits five-year high, before election give-aways

Sajid Javid cools talk of raising national insurance threshold to £12,500

Labour to raise corporation tax to 26%

10 arrested over £15m in money laundering conspiracy

HMRC warns on scams ahead of self assessment deadline

IFAC elects its first ever female-majority board

must reads

latest poll

Overall, how would you describe current conditions for your business?

View previous polls

recent comments

array(3) { [0]=> object(stdClass)#6324 (31) { ["id"]=> string(5) "22450" ["contentid"]=> string(5) "35069" ["component"]=> string(11) "com_content" ["ip"]=> string(12) "203.194.51.6" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(11) "4 days ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(9) "Anonymous" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(41) "Hi David, please make sure you don’t..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(5) "22449" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "cb0ef936b52eaf69aa3d1c1b6ee37f7d" ["moderate_hash"]=> string(32) "d389aaf5ba17a410b3bb5c2ae34f033a" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(9) "Anonymous" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22450" ["overlayComment"]=> string(103) "Hi David, please make sure you don’t have an ad blocker running (either at browser level or server..." } [1]=> object(stdClass)#6313 (31) { ["id"]=> string(5) "22449" ["contentid"]=> string(5) "35069" ["component"]=> string(11) "com_content" ["ip"]=> string(12) "91.85.36.182" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(11) "4 days ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(5) "David" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(43) "Hello, I can not access this webinar for..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(2) "-1" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "8906f8e35c618734b15ba8cc9d5d153b" ["moderate_hash"]=> string(32) "2ad1ceec304a37168932830ce808cfaa" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(5) "David" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22449" ["overlayComment"]=> string(53) "Hello, I can not access this webinar for some reason." } [2]=> object(stdClass)#6326 (31) { ["id"]=> string(5) "22448" ["contentid"]=> string(5) "35069" ["component"]=> string(11) "com_content" ["ip"]=> string(12) "203.194.51.6" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(11) "1 week ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(4) "Maja" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(41) "Hi Tony, please click on the 'here' at..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(5) "22447" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "d5988e351310f6ea15e18e798d068aef" ["moderate_hash"]=> string(32) "a2c60c90351809596b68488b04205ee1" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(4) "Maja" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22448" ["overlayComment"]=> string(101) "Hi Tony, please click on the 'here' at the end of the above article and fill out the questionnaire..." } }