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Australia: Regulator to probe Big Four accounting “cartel”

By  |  February 14, 2019
The Australian Competition and Consumer Commission (ACCC) has opened an inquiry into whether Deloitte, EY, KPMG and PwC have been engaging in anti-competitive behaviour

The competition watchdog has requested information from the Big Four as part of an initial step to see if a formal investigation is warranted, according to the Australian Financial Review.

The inquiry will look for evidence of whether the firms co-ordinated on pricing, charging methods or decisions regarding bidding on government contracts, following allegations of “cartel-like behaviour”.

The information requested includes engagement letters, draft proposals and notes on public sector work.The ACCC will also examine meetings and other communications between those involved for any evidence of misconduct.

Full Content: Financial Review

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