A PYMNTS Company

UK: ‘Big Four’ auditor reappointed after policy changes

By  |  May 28, 2013

In the wake of new policies initiated by the Financial Reporting Council, PWC, one of the so-called ‘Big Four’ auditors that dominate the market in the UK, has been reassigned to the British Standards Institute. The assignment was the result of a competitive tender by the company and is believed to be the first auditing shakeup in two decades. The FTC introduced the policy changes last year, which require that FTSE 350 companies change auditors every ten years, or justify why they do not. The Competition Commission is currently looking at the auditing market and considering similar mandated switch-ups for larger companies; the European Parliament voted last month to require auditor changes every 14 years.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Accountancy Age

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.