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Big Four Increase UK Audit Revenue Despite Losing Market Share

Aug. 5, 2022, 3:23 PM

Smaller firms took FTSE 350 audit market share from the Big Four in 2021 as the UK government continues trying to foster more competition for the big accounting firms.

Nonetheless, the Big Four firms—Deloitte LLP, Ernst and Young LLP, KPMG LLP and PwC, also known as PricewaterhouseCoopers LLP—increased 2021 audit income by 6.5%. That income increase was slower than the 7.9% growth in 2020.

  • The UK Financial Reporting Council released its annual Key Facts and Trends report Friday, looking at the accounting market overall. Growth in audit fees was substantial, especially for the smaller ...