I have to take exception to this as a member of the Institute of Chartered Accountants in England and Wales, which is also a regulator. If a member firm wants to quit a market it is not the ICAEW’s job to defend that firm’s commercial interests. Its job is to act in the public interest. And if there is no market-based solution to auditing in the future, so be it. The ICAEW should recognise that and not seek to support the unsustainable retention of a private monopoly that has not met the public interest test, but has secured significant wealth for a few.

Competition quitting a market proves it’s a monopoly already.

1 thought on “Blimey”

  1. There’s the answer to Ritchie’s employment problem…

    Go out and start yourself your own Big Four firm to replace the Big Four firm that’s considering leaving.

    Should be a snap, what with his skills and all…

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