ECONOMY - FINANCE - BUSINESS / (ae) auditing

Agreement on ten-year rotation of auditors

Brussels, 17/12/2013 (Agence Europe) - Couls this be the end of the Big Four's gravy train? Agreement was reached on Tuesday 17 December between the EU Council of Ministers and the European Parliament on reform of auditing rules, which are now rather different from those initially suggested by the Commission. Internal Market Commissioner Michel Barnier insisted on changes to boost competition because auditing is dominated by the Big Four (PwC, KPMG, Deloitte and EY). He suggested compulsory...