Big Four audit probe

The Competition Commission is to investigate the audit market. Rachel Fielding looks at the pros and cons

Under normal circumstances, the announcement that the Big Four’s provision of audit services was going to be investigated by the Competition Commission would have sent ripples of panic through the UK’s biggest firms. But following a series of investigations since the financial crisis, this latest announcement has done little more than raise eyebrows. Could their muted response signal that they are resigned to major upheaval as, once again, they are forced to open up their businesses to detailed scrutiny?

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