Market Research Report
A New Audit Era: Big Four Must Account for Themselves in CMA Shakeup
|Published by||MarketLine||Product code||806193|
|Published||Content info||14 Pages
Delivery time: 1-2 business days
|A New Audit Era: Big Four Must Account for Themselves in CMA Shakeup|
|Published: March 11, 2019||Content info: 14 Pages||
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.
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.