Great to see Theta Global Advisors featured in Finance Monthly in an article that discusses why top firms are rejecting shared audit proposals and what this means for the future of UK professional services.
The Big Four have stated they will not be supporting proposals for shared audits, citing the potential doubling down on work, that they see no evidence the measure would improve the quality of audits and fears that not enough smaller firms would be interested in taking part. These firms audit 97% of the FTSE350 and also compete for hugely more lucrative ‘other professional services’ with the same client. As such, the introduction of these proposals will have huge knock-on impacts on the choice, quality, and availability of audit services in the market.
At Theta Global Advisors, we do not audit and hence, we are one of the few truly independent accounting advisory firms for non-audit professional services. Mid-sized firms such as ours that are disrupting the industry in a truly unprecedented manner are seeing great success having worked on major accounts this year.
Find out more here: Finance Monthly – Audit Reform vs The Big Four