Accountancy giants Deloitte, KPMG, EY and PwC may be broken up following the Carillion collapse where Deloitte failed to highlight serious problems in the company. UK MPs argue that the four companies have too big a stranglehold on the audit market, causing a lack of competition which could lead to further problems. It's being suggested they are either broken up into smaller companies or “detach” the audit part of their business, which checks companies' books, from the consultancy arm that offers advice.
Accountancy giants KPMG, Deloitte, EY and PwC may be broken up following the Carillion collapse where KPMG failed to highlight serious problems in the company. UK MPs argue that the four companies have too big a stranglehold on the audit market, causing a lack of competition which could lead to further problems. It's being suggested they are either broken up into smaller companies or “detach” the audit part of their business, which checks companies' books, from the consultancy arm that offers advice.