Law and RegulationDeloitte’s response to the Competition Commission's working paper |
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Background
This response reflects Deloitte’s comments on the first working paper published by the Competition Commission (CC).
Contents
Deloitte’s response finds that the working paper provides a valuable guide to the main legal and regulatory forces relevant to the audit of large companies in the UK. However, it contains insufficient discussion on one key issue: audit quality. There are also a small number of other very important issues which are raised by the working paper that Deloitte believes need further consideration by the CC. These are:
- risk and liability;
- the role of the audit committee;
- US regulatory forces; and
- regulation and market distortion.
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Deloitte’s response to the Competition Commission's law and regulation paper (PDF)
