Engagement level profitability analysisDeloitte’s response to the Competition Commission's working paper |
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Background
Deloitte’s response comments on the following areas:
- Market segment profitability
- Variation in profitability
- Audit life cycle
Key findings
Deloitte welcomes the CC’s findings that:
- there is no evidence to suggest that anti-competitive behaviour in the form of systematically achieving high levels of profitability exists within the reference market; and
- there is no indication that audit firms “low-ball”.
The analysis presented in the Working Paper provides yet further evidence that competition between firms in the reference market is generating positive outcomes for companies and strongly supports Deloitte’s view that there is no evidence of adverse outcomes.
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Deloitte’s response to the Competition Commission’s Engagement level profitability analysis paper (PDF)
