Big Four Firms Dominate UK’s Large Cap Market, Is Big Three Possible?

The Financial Reporting Council (FRC), the UK’s independent regulator responsible for promoting confidence in corporate reporting and governance just published its Fourth Progress Report on the implementation of the MPG recommendations on Promoting Choice in the UK Audit Market.

While the report generally deals with progress on a number of FRC’s key strategic initiatives, there is a very interesting analysis on the concentration of the auditing market in the UK which is dominated by the Big Four firms, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers....

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