Big Four’s UK Audit Dominance Challenged by Smaller Firms

The Big Four accounting firms continue to dominate large UK audits, but smaller firms are nibbling away at their market share, a report showed Monday.

Two new small firms audited FTSE 250 companies in the three months to Nov. 9, according to Adviser Rankings Ltd., with a second firm from outside of the Big Four auditing a FTSE 100 company. The Big Four—Deloitte LLP, Ernst & Young LLP, KPMG LLP, and PwC, also known as PricewaterhouseCoopers LLP—nonetheless maintained their dominance, conducting 87% of FTSE 250 audits.

• RSM LLP’s existing audit client Frasers Group Plc entered the FTSE 100, Adviser ...