Losing Clout?

#1

all
I recently read that the Office of Fair Trade is to investigate the ‘big 4’ with a Competition Commission Investigation unless a solution to open up the large company audit market can be found.

Do you guys think this is a good thing? Do the big 4 have too much power, both in terms of the type of work and prestiege?

Is an investigation good for the profession ?

I have long thought that the ‘big 4’ enjoy monopolistic power and should be forced to lessen their grip in certain areas of commerce. I’d like to know what everyone else thinks.

cheers

#2

Seang

I’m all for the power and influence of the ‘big 4’ being diluted. It should also relieve pressure on students desparate to get into the ‘big 4’ and may improve the job market by getting rid of ‘the big 4 requirement’

We should never have gotten into this situation in the first place, 4 firms basically controlling audit round the globe smacks of ‘too big to fail’

#3

Guys
i think that you have some good points, after all more cpompetition cant be bad.

Your point about being too big to fail is a bit worrying but very valid. What would happen if there was another Enron and PWc or one of the other ‘big 4’ collapsed overnight?

deedee