MPG proposals: too little, too late?

摘要

The clock is ticking on moves to improve choice in the large audit market amid accusations of institutionalised prejudice and fears that a slow pace of change will lead to regulatory intervention. Last month the Financial Reporting Council (FRC) published a final list of 15 proposals put forward by its Market Participants Group.These proposals, which are intended to provide a market-led solution to the choice problem, include a recommendation that firms should publish the profit margins of their audit work.