UK antitrust agency the Competition and Markets Authority is contemplating expanding the consultancy and auditing functions of the big four accountancy firms . After a series of high - profile company failures , such as Carillion , the agency is investigating possible solutions to conflicts of interest arising in Deloitte , PWC , EY and others , who accounted for 97 % of its 350 audits in 2016 - 17 , and could affect the firms ' market share . Last year , the big four made £ 329 m ( $ 424 m ) from additional consultancy services from big clients which they audit , bringing up the possibility of going easy on audits for the prospect of selling lucrative extras .
UK antitrust agency the Competition and Markets Authority is contemplating separating the consultancy and auditing arms of the big four accountancy networks. After a series of high-profile company failures, such as Carillion, the agency is investigating possible solutions to conflicts of interest arising in Deloitte, PWC, EY and KPMG, who accounted for 97% of FTSE 350 audits in 2016-17, and could cap the firms' market share. Last year, the big four made £329m ($424m) from additional consultancy services from big clients which they audit, bringing up the possibility of going easy on audits for the prospect of selling lucrative extras.