While the Office of Fair Trading’s recent report on the auditing sector, which was much-focused on the “Big Four” leaders in the market, found little cause for concern that the current market structure was being jeopardized by collusion and stagnancy, analysts say that major changes are still in the works for the auditing sector. The OFT in fact found restricted competition due to high prices paid if a company would like to change auditors. Additionally, comparing different auditors was deemed difficult and that found a significant percentage of companies have had the same auditor for more than two decades. Among the most intensely-debated solution proposed by the OFT is requiring companies to rotate their auditors.
Full Content: Financial Director
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI