BDO Gains Share in U.K. Audit Market At Expense of Big Four

Smaller firms are taking U.K. listed-company audits away from the Big Four, although the big firms retain their stranglehold over the largest audits, according to a report made public Friday.

BDO LLP in particular increased its market share of both the FTSE 250 and the wider stock exchange at the expense of the Big Four—it’s the third-largest auditor of London-listed companies and the fifth-largest auditor of FTSE 250 companies, the research company Adviser Rankings Ltd said in its report.

“The Big Four is losing market share because of auditor-rotation rules,” Steve Smith, Adviser Rankings research manager, said in a ...