Letter: Significant Four accounting requires to return to the 1980s

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Relating to your report “Big Four drop to back again shared audit plan” (Report, August 16), there is a main belief that operates as a result of the fiscal planet that large is beautiful. A enterprise that is prosperous is not beautiful to traders unless it can display growth, the imagining goes. And however we are now all subject to the abuse of electric power that this offers the likes of Google, Amazon, Fb and so on.

There is now a discussion about the long term of the Huge 4 accountancy firms, the stranglehold that they have on the FTSE 100, though criteria continue to be very low. They have so much turned down the proposal to share their riches with the scaled-down companies and instead counsel a limit on the range of prime firms that they can each individual audit.

Other suggestions in the earlier have been to crack them up into their constituent components — tax, audit, consultancy and many others. But this would nevertheless necessarily mean that the juicy audits would be shared by just 4 corporations. Would not a far better resolution be to split up the four audit firms into, say, 8 and get back again to wherever we were being in the 1980s?

They would continue to be significant sufficient to have the resources and competence — they did then — but they would have to compete more challenging for each individual audit and up their match to hold them. This really should also convey down the ridiculous charge of these large audits.

Chris Ogle
Brighton, Uk