Regulators push harder against dominance of top four audit firms
The Independent Regulatory Board for Auditors is developing guidelines on how firms can join forces to upskill mid-tier companies
11 March 2020 - 15:41
Regulators are stepping up efforts to break the oligopoly of top auditing firms after accounting scandals involving two of the big four failed to do the job for them.
SA’s largest public companies are reluctant to switch to mid-tier firms out of concern they may not be able to handle complex operations often elsewhere in Africa or further abroad. That is spurring smaller firms to scale up and hire teams in anticipation of new rules aimed at dismantling the dominance of PwC, Deloitte, EY and KPMG...
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