Deloitte comments on the Competition Commission’s final report

David Barnes, managing partner, Deloitte UK head of public policy, commented:

“The audit market has fundamentally changed since the Competition Commission’s investigation began. The combination of this investigation, the FRC’s guidelines and the ongoing debate in Europe has led to a material and enduring increase in audit tenders.

“The Competition Commission has listened to the views of shareholders and developed a package of remedies that will enhance investor dialogue and strengthen the role of the audit committee.

“While this does provide clarity in the UK audit services market, there will be some uncertainty until the position in Europe is finalised.”

End

Notes to editors

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

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