The Sunday Post (Inverness)

‘Big Four’ auditors face industry probe

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The government has ordered a probe into the UK’S auditing industry amid concerns over the “Big Four” accountanc­y firms’ involvemen­t in a number of business collapses.

Business Secretary Greg Clark said it was “right to learn the lessons and apply them without delay” after scandals including the collapse of constructi­on giant Carillion and former high street stalwart BHS. He has ordered a probe into competitio­n in an industry dominated by the so-called “Big Four” firms: Deloitte, PWC, EY and KPMG.

MP Frank Field, chairman of the Work and Pensions Committee, has said bad business practice had been “waved through by a cosy club of auditors, conflicted at every turn”.

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