The Competition and Markets Authority has issued an update in its market study into the audit sector, which was launched in October, announcing concerns and proposals which touch on some of the key aspects of how the market for large company audits works, and which if taken up have the potential to fundamentally change the sector going forward.
For more detail on the CMA’s update please see our BInformed briefing here.
The CMA’s is consulting on its proposals until 21 January 2019, with consultation questions and a format for responding available at section 6 of the CMA’s update paper. If you are an audit firm, an audited company or simply an interested party, and would like assistance understanding the CMA’s proposals or responding to this consultation, we would be delighted to help. Please contact Charles Livingstone or Jamie Dunne to discuss further.
On December 20, 2018