EUR 852.52 For Business Accounts Only

A new audit era: Big Four must account for themselves in CMA shakeup

Summary

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?