Rejected petition Prohibit the ‘Big Four’ from conducting audits on ‘public interest’ companies
As illustrated recently by Carillion and numerous other major corporate failures before it, the ‘Big Four’ independent audit opinion has been confirmed as inherently flawed. The NAO should consult audit on all outsource and utilities companies with government contract excessing £10m.
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There is an inherent risk in the ‘Big Four’ conducting audits of companies where senior management are ex-‘Big Four’ themselves. A mutual understanding may mean that in return for an audit that avoids exposing the company to unwanted scrutiny, the company will ensure that there is minimal financial risk to the auditors.
This petition was rejected
Why was this petition rejected?
It’s about something that the UK Government or Parliament is not responsible for.
This isn't something that the UK Government or Parliament could do.
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