Tier 1 audit firms de-risking their portfolios
Posted: 22 Jul 2022, 16:46
Firstly, regulators impose hefty fines on audit firms, then....
https://www.frc.org.uk/getattachment/26 ... y-2022.pdf
Hmm what did they think would happen, as you say.
The only option is much higher fees in Tier 2 so that FRC requirements can be met so service higher risk clients.
Almost all Top 10 firms in the UK have had big fines levied in the last couple of years. GT and Hacker Young in the last week...., pwc x 2 last month, KPMG the month before that...