Big Four Heading for Audit Shakeup in U.K.
The U.K.'s accounting watchdog has asked the firms to submit a plan by Oct. 23 for separating their audit and consulting businesses.
Audit Woes in U.K. Hit KPMG’s 2019 Profit
The 14% decline in U.K. profits "follows a series of reputational setbacks for KPMG over the past two years."
KPMG to Restructure Audit Business in U.K.
The Big Four firm says it wants to "restore trust in audit" but a U.K. regulator indicates the changes don't go far enough.
U.K. Watchdog Calls for Audit Market Makeover
The Competition and Markets Authority stopped short of recommending the Big Four be broken up in response to a series of high-profile audit failures.
U.K. Lawmakers Urge Full Breakup of Big Four
“The Big Four’s dominance has fostered a precarious market which shuts out challengers and delivers audits which investors and the public cannot rely on."
Lessons on Auditing from Carillion’s Collapse
The sudden failure of U.K. construction firm Carillion exposes the limits of public company auditing and sparks discussion of reforms.
U.K. Fines KPMG $4M for Audit Deficiencies
The firm admitted its audits of scandal-plagued Quindell plc fell “significantly short” of professional standards.
Big Four Facing Calls for U.K. Breakup
Lawmakers have labeled the four firms a “cozy club incapable of providing the degree of independent challenge needed” for auditing public companies.