Is it time for bolder action?
The BEIS white paper on UK audit reform paves the way for bold change, and the title “Restoring trust in audit and corporate governance” suggests a broken system, in need of bold reform. Part of that reform will focus on how greater competition can be generated in a market dominated by four players.
An audit market fit for the future needs to reflect the complexity of task, whilst promoting competition and avoiding over familiarity, as highlighted by the BEIS select committee in 2019. But just how far will the reforms go?
Fill out the form below to download our FTSE 100 Audit Market Analysis to see what we expect the key recommendations will be to create a commercially competitive marketplace.