Resources for Sarbanes-Oxley (SOX)

Audit choice a four gone conclusion

www.vnunet.com

It could be ten to 15 years before the audit market is opened to more than just four firms, the former chairman of KPMG Sir Mike Rake has said.

The comments may provide some cover for the Financial Reporting Council this week, as the fruits of a two-year project to try and open the audit market appeared largely imperceptible to the profession.

The Market Participants’ Group report, released at the beginning of last week, into market options to open audit to a much larger panel of auditors, was always likely to disappoint those hoping for a quick fix.

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