My comments have been featured in London Loves Business, discussing the latest report that the Department for Business, Energy and Industrial Strategy (BEIS) is set to publish reform proposals before Christmas that could lead to the separation of auditing and consulting practices.
I commented: “There is a huge amount of heightened scrutiny on auditing services, especially of the Big Four, looking at the overall quality of the audit, the role auditors play in terms of legislation and their public perception, and the independence of auditing services. For example, how this is impacted as firms also deliver more lucrative non-auditing consulting services to their audit clients. These new concerns from BEIS and the previous concerns raised by the FRC once again shine the spotlight on the actions of the Big Four and it is not inconceivable that further and tougher regulation, particularly in a global economy with President-elect Biden working more closely with the European Union, could be imposed in the near future.”
Click here to read the full article: London Loves Business – Big Four Await Shake-Up