News story

CMA consults on draft order for audit changes

The CMA has published a draft order for consultation following the CC’s investigation into the supply of statutory audit services, which was published last year.

When finalised, the order will put into force some of the changes required by the Competition Commission’s (CC’s) investigation; including that FTSE 350 companies must put their statutory audit engagement out to tender at least every 10 years, in addition to measures to strengthen the influence of the company’s Audit Committee over provision of audit services.

All information relating to the investigation will be available on the statutory audit case page.