UK: Competition Commission publishes full provisional findings report for statutory audit market inquiry

Last week the Competition Commission published a summary of its preliminary findings in respect of its inquiry into the market for statutory audit services: see here. The Commission provisionally concluded that there were features of the market that created an adverse affect on competition and that this resulted in companies being offered higher prices, lower quality and less innovation (and differentiation of offering) than would be the case in a market without the adverse features. The full report containing the Commission's findings is now available: see here (pdf). The supporting appendices are available here.