Break up the Big Four
Submission to Treasury on the regulation of accounting, auditing and consulting firms in Australia
Authors
Media release
Light touch regulation has failed, it’s time to break up the big four
Australia’s big four accounting firms have been rocked by a series of scandals in recent years, demonstrating fundamental ethical and regulatory failures.
A structural problem requires a structural solution: separating the auditing and consulting arms of accounting firms, while regulating both in line with corporations, would guard against future
misconduct.