Competition watchdog calls for major shake-up of audit market

The competition regulator is pushing for a major overhaul of the UK's accountancy market as part of a shake-up of the scandal-hit industry. The Competition and Markets Authority (CMA) said auditing and consultancy services should be entirely separate. Scrutiny of the big four accountancy firms KPMG, Deloitte, PwC and EY has intensified in recent months, fuelled by the failures of some major companies. The CMA's recommendations follow the collapse of high-profile companies such as construction firm Carillion, which was audited... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...