UK: Competition Commission statement on audit market investigation

Following Friday's reference by the Office of Fair Trading, the Competition Commission has provided some preliminary information regarding its investigation into competition in the audit market: see here (pdf). In its announcement, the Commission explains that it is required to report by 20 October 2013 although it aims to complete its investigation before this deadline. The scope of its work will be set out in an issues statement and a timetable for its work will soon be published along with the names of those appointed to its inquiry group.