Professional Adviser

'Big four' must split audit and consultancy work, says CMA

Must appoint separate CEOs and boards

Magnifying glass over the word audit
The CMA's probe of the sector found issues with audit quality
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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...

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