Accounting Firms Face ‘Big Impact’ From Draft EU Restrictions
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Large auditing firms face restrictions on offering consulting services and may be forced to share work with smaller rivals under proposals from the European Commission.
Companies that are publicly traded “shall appoint at least two statutory auditors” under the measures, which are designed to improve trust in “the veracity of the financial statement,” according to a draft version of the proposals from the European Union’s executive arm obtained by Bloomberg News.