Is the grip of the Big Four’s hold over the audit committees of the UK’s largest companies tightening despite increased scrutiny around governance and independence? According to exclusive research by Accountancy Daily, the number of audit committee chairs who are alumni of the Big Four accountancy firms has now hit 66, an increase of four on the previous year’s figures.

But at the same time, 59 chief finance officers currently have a Big Four background, a fall from last year’s 66. Meanwhile, the number of board chairs that have a similar heritage has remained relatively stable at 19, up just one on last year’s figure.

The ICAEW qualification continues to reign supreme among audit committee chairs and CFOs. In 2020’s survey, nearly half (49%) of the FTSE 100’s audit committee chairs had an ACA qualification, with 13 claiming a CIMA qualification. Some 14, however, had no accountancy qualification.

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