{"id":43218,"date":"2018-10-01T06:54:14","date_gmt":"2018-10-01T05:54:14","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=43218"},"modified":"2018-10-01T06:54:58","modified_gmt":"2018-10-01T05:54:58","slug":"hats-off-to-those-who-have-brought-the-big-4-to-account","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2018\/10\/01\/hats-off-to-those-who-have-brought-the-big-4-to-account\/","title":{"rendered":"Hats off to those who have brought the Big 4 to account"},"content":{"rendered":"<p>Many may have noted that over the weekend it was reported that:<\/p>\n<blockquote><p>The government has called for a comprehensive review of Britain\u2019s auditing industry in what could herald huge changes to a sector dominated by the firms known as the big four.<\/p><\/blockquote>\n<p>According <a href=\"https:\/\/www.theguardian.com\/business\/2018\/sep\/29\/uk-mulls-audit-sector-reform-after-minister-admits-deficiencies?CMP=Share_AndroidApp_Outlook\" target=\"_blank\" rel=\"noopener\">to the Guardian<\/a>:<\/p>\n<blockquote><p>The business secretary,\u00a0<a class=\"u-underline\" href=\"https:\/\/www.theguardian.com\/politics\/greg-clark\" data-link-name=\"in body link\">Greg Clark<\/a>, said it was \u201cright to learn the lessons and apply them without delay\u201d as he ordered the inquiry into competition within the industry where Deloitte, PwC, Ernst &amp; Young and KPMG audit 98% of the UK\u2019s largest listed companies.<\/p><\/blockquote>\n<p>They added:<\/p>\n<blockquote><p>The review will be led by Andrew Tyrie, the head of the Competition and Markets Authority.\u201cThe CMA has been considering for some time how best to contribute to the work being carried out to improve audit,\u201d he said. A CMA spokesperson added: \u201cWe\u2019re actively considering what next steps are needed.\u201d<\/p><\/blockquote>\n<p>I am, of course, delighted. But, as usual, I know that this happened because of the work of a few campaigners. I have played a small part. But I take my hat off to Prem Sikka, Tim Bush, Aul Shah, Paul Moore and Brian Little who have done much more. I know that countless emails have flowed; massive effort has been expended and considerable thought has gone into winning this review.<\/p>\n<p>Now we have to hope it lives up to expectation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many may have noted that over the weekend it was reported that: The government has called for a comprehensive review of Britain\u2019s auditing industry in<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2018\/10\/01\/hats-off-to-those-who-have-brought-the-big-4-to-account\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,26,81,101,59,60,23,8],"tags":[],"class_list":["post-43218","post","type-post","status-publish","format-standard","hentry","category-accountancy","category-accounting","category-auditing","category-big-4","category-deloittes","category-ernst-young","category-kpmg","category-pwc"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/43218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=43218"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/43218\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=43218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=43218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=43218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}