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Britain needs new watchdog to shake up 'Big Four' accountants

Reuters  |  LONDON 

By Huw JonesLONDON (Reuters) - Britain needs a new watchdog to shake up the country's "Big Four" accounting firms and reduce their dominance of the market for auditing companies' books, two government-requested reports said on Tuesday.The reports' proposals mark the most radical attempt yet to reform a sector in which the Big Four firms - EY, Deloitte, KPMG and PwC - check the accounts of 341 of the top 350 listed companies in Britain.Politicians have criticised a "cosy" audit sector and its "timid" regulator of failing to foresee the collapse of retailer BHS and construction company ...

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First Published: Tue, December 18 2018. 05:35 IST