Deloitte CEO responds to the Competition and Markets Authority (CMA) Statutory Audit Market Study - Update Paper has been saved
Deloitte CEO responds to the Competition and Markets Authority (CMA) Statutory Audit Market Study - Update Paper
18 December 2018
David Sproul, Senior Partner and Chief Executive of Deloitte, said:
“We need a competitive, high quality audit sector that works for shareholders, wider society and businesses, and maintains the UK’s position as a leading capital market.
“It’s clear that trust and confidence in the role of the profession is not where it should be and we are supportive of change that enhances audit quality and maintains the competitive position of the UK as we prepare to leave the EU.
“This is a critical moment for the profession in the UK and internationally. The CMA provisional findings, the Kingman review and the announcement of Project Flora offer a unique opportunity to develop an audit market and structure that meets the needs of 21st century stakeholders.
“We will carefully analyse the detail within the CMA proposals and look forward to working with the CMA in conjunction with the findings of the other reviews to develop a world-leading profession in the UK.”
Note to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
For more information, please visit www.deloitte.co.uk.
Member of Deloitte Touche Tohmatsu Limited