Deloitte’s UK audit activities have an independent board of directors to meet legal requirements to improve industry standards
Deloitte’s UK audit business will have a standalone board starting January to meet legal requirements aimed at improving industry standards following a series of business failures.
Failures: Deloitte, KPMG, PwC and EY must file plans to foreclose their UK audit department
Deloitte, KPMG, PwC and EY, the world’s “ Big Four ” accounting firms, have been instructed by the regulator, the Financial Reporting Council (FRC), to file plans to foreclose their UK audit department by Oct. 23.
The divorce is to let them focus more on their work, be more challenging with clients, and avoid conflicts of interest with consultancy work.