The Competition and Market Authority has today published an update paper as part of its market study of the statutory audit market: see here. Views are sought on proposed remedies including enhanced regulatory scrutiny of audit committees; the introduction of mandatory joint audits; introducing a cap on market share; and requiring the full structural or operational split between audit and non-audit services.
Tuesday, 18 December 2018
UK: CMA statutory audit enquiry - draft proposals published
The Competition and Market Authority has today published an update paper as part of its market study of the statutory audit market: see here. Views are sought on proposed remedies including enhanced regulatory scrutiny of audit committees; the introduction of mandatory joint audits; introducing a cap on market share; and requiring the full structural or operational split between audit and non-audit services.
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