The UK’s Big Four accounting firms have until 2024 to separate their audit practices after an edict from the accounting regulator that marks the largest shake-up of the industry in decades.
The Financial Reporting Council has issued principles for the operational separation of the audit units of PwC, Deloitte, KPMG and EY. The firms must outline their plans to implement all 22 of its principles by the end of October, and have completed the measures by June 2024.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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