Big Four Increase Market Share Despite Increased Scrutiny

Law360, London (October 28, 2019, 1:21 PM GMT) -- The biggest four accounting companies have entirely sewn up the market for auditing of FTSE 100 companies, latest figures show, even as lawmakers call for steps to reduce their dominance in the sector.

PricewaterhouseCoopers, Deloitte, Ernst & Young and KPMG increased their market share for auditing of the FTSE 100 companies from 99% in 2017 to 100% last year, according to statistics from the Financial Reporting Council on Friday.

The figures were revealed as the government plans to introduce primary legislation in the first quarter of next year to eventually create a new regulator —  the Auditing, Reporting and Governance Authority....

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