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Big Four firm KPMG said today it was introducing a new structure to move its audit firm away from the rest of its UK business, but falling short of a full separation.
The number of deficient audits performed by the six largest global audit firm networks reduced by 3% in 2018, although the current level – at 37% – is still unacceptable.
According to a survey, 905 of accountants believe there has been a cultural shift wherein professionals no longer see themselves as number crunchers.
Either BDO or Mazars are understood to be in line to become the first auditor in the multinational investment bank and financial services company’s history from outside the Big Four.
A federal judge has said that President Trump’s financial records, held by Mazars, would be part of a “proper subject of investigation” by Congress.