PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The so-called ‘big four' will need to set up separate management, accounts and remuneration; appoint a separate chief executive and board; separate financial statements; and, end profit-sharing between...
View from the front row
Project Libra unveiled
Including SJP and investment trusts
Spent two years at Sanlam
Will also assess FCA's actions