A number of structural reforms have been suggested to challenge the declining quality of major audits in the UK. Proposed changes to professional services include shared audit proposals to break up the alleged oligopoly of the Big Four.

Chris Biggs, partner at Theta Global Advisors LLP, spoke to Consultancy.uk about the alleged transferring of ‘risky’ clients onto smaller competitors who may not currently have the resources – which in turn may see their audit quality rate drop.

Whilst it’s encouraging to see consistent improvement amongst the Big Four, it would be less encouraging if this was a result of passing difficult audits to smaller firms.

Find out more here: Consultancy.uk – Big Four foisting high risk clients onto smaller competitors