Big audit firms may quit market

By Dan Peters | 23 January 2019

Larger audit firms may quit the local government market in the long-term, an independent review has found.

Representatives of the big auditors interviewed as part of the evaluation of their procurement indicated that lower fees, increased regulatory requirements and higher audit risks arising from local government financial challenges made the market ‘less attractive and may discourage such firms from remaining in the market in the longer term’.

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