Statutory audit market study

The CMA carried out a market study into the statutory audit market, to see if the market is working as well as it should.

From:
Competition and Markets Authority
Published
9 October 2018
Last updated
18 April 2019 — See all updates
Case type:
Markets
Case state:
Closed
Market sector:
Financial services
Opened:
9 October 2018

Administration timetable

Date Action
8 October 2019 Statutory deadline
18 April 2019 Final report published
21 January 2019 Deadline for responses to the update paper
30 October 2018 Deadline for responses to the invitation to comment
9 October 2018 Launch of market study

Contact

statutoryauditmarket@cma.gov.uk

Personal data

The CMA may collect, use and share personal data for its market studies under the Enterprise Act 2002. This includes processing personal data for the purposes of the General Data Protection Regulation and the Data Protection Act 2018.

For more information about how the CMA handles personal information, please see the CMA’s Personal Information Charter.

Final report

18 April 2019: The CMA published the final report on the statutory audit market.

Responses to update paper

Update paper

18 December 2018: The CMA published an update paper for the statutory audit market study. The paper includes proposals for remedies for consultation.

We welcome responses to the update paper by 5pm on Monday 21 January 2019.

Responses to invitation to comment

Launch of market study

9 October 2018: The CMA has launched a market study into the statutory audit market in the UK. We are focusing on 3 sets of issues:

  • choice and switching
  • the long-term resilience of the sector
  • the incentives between audited companies, audit firms and investors

We are inviting comments on the issues raised in the invitation to comment, including from interested parties such as audit firms, audited companies and shareholders and investors.

Updates to this page

Published 9 October 2018
Last updated 18 April 2019 + show all updates

  1. The final report and the summary of the final report have been published.

  2. Responses to update paper published.

  3. Responses to update paper published.

  4. Update paper for the statutory audit market study published. This paper includes proposals for remedies for consultation.

  5. Responses to invitation to comment published.

  6. Responses to invitation to comment published.

  7. First published.

Contents

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