US audit choice report backs status quo and comes under fire from UK regulator
There is a compelling need to tackle the dominance of the Big Four audit firms, FRC chief executive Paul Boyle has said, taking issue with a US government report that backed the status quo.
The US Government Accountability Office released a report last week that found that the lack of more large firms auditing public companies did not significantly push up audit costs.
Instead the GAO, the equivalent in the US of the National Audit Office, found that other costs, including regulatory changes, the cost of attracting employees and the increasing complexity of transactions auditors are required to look at, had all led to higher fees.
See full Article.
Posts
