UK: Audit Inspection Unit publishes reports for the Big Four

Earlier this year the Audit Inspection Unit Annual Report for 2009/10 was published (see here, pdf). This provided an overview of the recommendations made by the AIU in respect of the quality of auditing by firms. Today the AIU's reports in respect of four firms (Deloitte LLP, Ernst & Young LLP, KPMG LLP and KPMG Audit PLC and PricewaterhouseCoopers LLP), on which some of its recommendations were based, have been published: see here. All of these reports identify areas for improvement by the firms.