CIMA CEO Charles Tilley has been invited to give oral evidence to the House of Lords Economic Affairs Committee - Inquiry into auditors: market concentration and their role. The Committee is considering what impact the dominance of the Big Four has on competitiveness, audit quality and auditor independence. It is also enquiring whether auditors could have mitigated the banking crisis of 2008 by alerting investors to the riskiness of assets held by banks.
The latest batch of financial reporting related consultations is quite a mix, covering audit market concentration, the future of narrative reporting and leases. As ever I would be pleased to receive your feedback on these latest consultations:
House of Lords: Inquiry into Audit Market Concentration