"We want a strong and respected audit profession in the UK and welcome the immediate CMA study to consider concerns raised about the sector in recent months.
"Audit is crucial to underpinning confidence in capital markets, and we support steps to address concerns and enhance society’s trust in corporate audits.
"We are open to change and finding ways to create more choice and we’re committed to helping regulators find practical remedies which serve the best interests of shareholders, companies and the market. Audit quality needs to be front and centre of any changes.”
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