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Firms’ stated competitive strategies

Deloitte’s response to the Competition Commission's working paper

Deloitte’s response to the Competition Commission's firms’ stated competitive strategies paper

Background

This response comments on the following areas:

  • The evidence showing the audit market is highly competitive
  • The differing capabilities of providers of audit services
  • Investment in winning and retaining FTSE 350 clients
  • The allegation of “low balling”
  • Additional comments  

Key findings

The CC’s working paper demonstrates very clearly a pattern of competitive behaviour from all firms in this market.  The firms are obliged to compete hard to win audit relationships and to retain those relationships in the face of the detailed assessment of their performance which companies undertake, and the competitive activities of their peers.

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Deloitte’s response to the Competition Commission's firms’ stated competitive strategies paper (PDF)

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