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Published

Balancing audit market requires 'considerable time'

Summary by The Accountant
The UK Financial Reporting Council (FRC) has stated that achieving a more balanced and diverse public interest entity (PIE) audit market in the country will take “considerable time,” although the market share of non-Big Four firms is gradually increasing. In its latest Audit Market and Competition Developments Update, the FRC noted a growth in challenger firms’ share of FTSE 350 audits, rising from 11% in 2022 to 13% in 2023. While total PIE aud…
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