A survey of institutional investors has revealed that 80% of respondents feel there is insufficient choice in the audit market and structural barriers exist which prevent audit firms outside the big four from auditing listed companies.
The survey of members of the International Corporate Governance Network, which commissioned the research with the six largest accounting groups, also revealed that 80% of respondents did not feel they were sufficiently involved in setting new financial reporting standards and 60% stated that they did not think regulators were doing enough to consult with investors.
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