U.K. to Probe ‘Big Four’ Dominance

Antitrust regulator says market for audits works poorly for customers.

The “Big Four” accounting firms’ dominance over corporate audits in Britain will be investigated after an antitrust regulator said the market is bad for customers and small competitors.

The U.K. Office of Fair Trading, which has examined the issue since 2002, referred the matter today to the Competition Commission to find any distortions in the industry and potentially force changes. The probe will focus on KPMG LLP, Deloitte LLP, Ernst & Young LLP and PricewaterhouseCoopers LLP.

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