The £600 million audit market is now under scrutiny as it faces a major shake-up.
As authorities attempt to make improvements on standards across the board, some of the audit industry's largest users of software for accounting may soon be asked to reorganize their operations.
With city firms, large companies and smaller accountants who have been using accounting software for small businesses have been expressing their concerns for several years of the "Big Four" - PwC, KPMG, Deloitte, Ernst & Young – and their stranglehold on one of the most important cogs of corporate British life. Michael Barnier, internal market commissioner at the European Union has told the “Big Four’ that splitting their European bodies could be the key to an upturn in quality and opening up of the market.
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