Выбор редакции

Top auditors ‘loss-leading on fees’ and undercutting rivals, MPs say

Evidence from the big four accounting firms shows cost overruns in up to 50% of audits

The big four accounting firms are failing to charge some of the UK’s largest companies the full cost of inspecting their accounts, raising fresh concerns that the auditing industry is failing to scrutinise leading businesses properly.

The information has been released by the Commons business, energy and industrial strategy (BEIS) select committee, on the eve of the publication of its report into the “future of audit”, which was prompted by a wave of accounting scandals at stock market listed companies such as Carillion, Tesco and Patisserie Valerie.

Continue reading...