Big Four Accountants 'Dominating Market'

An investigation into the UK's audit market finds that competition is restricted by factors making it hard for companies to switch accountants.

The Competition Commission (CC) said the so-called "big four" audit firms - Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers - dominate the market, as revealed by Sky's City Editor on Thursday. 

It said it was exploring implementing "mandatory tendering" of audit contracts and "mandatory rotation" of firms by companies.

Britain's largest listed companies lack bargaining power, the CC said, because it is difficult for them to switch firms, given the difficulties in comparing alternatives and the costs involved.

Its provisional findings also highlighted that audit firms often ignore the interests of their primary customer - companies' shareholders - meeting the demands of executive management instead.

More follows...

Anda sedang membaca artikel tentang

Big Four Accountants 'Dominating Market'

Dengan url

http://raskindollar.blogspot.com/2013/02/big-four-accountants-dominating-market.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Big Four Accountants 'Dominating Market'

namun jangan lupa untuk meletakkan link

Big Four Accountants 'Dominating Market'

sebagai sumbernya