Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
Sat, Sep 14, 2019 | Last Updated 11:02 pm IST

Menu &Sections

Search

CCI to investigate if the Big Four PwC, EY, Deloitte and KPMG abusing dominant position in Indian audit market

CCI to investigate if the Big Four PwC, EY, Deloitte and KPMG abusing dominant position in Indian audit market
CCI to investigate if the Big Four PwC, EY, Deloitte and KPMG abusing dominant position in Indian audit market
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

According to sources it is not just the giant e-commerce firms that are being investigated by the Competition Commission of india (CCI). The government is staring down on the four top consulting firms, KPMG, PwC, EY and Deloitte. Reportedly the government wants CCI to investigate if the four are engaged in keeping competition at bay and appropriating whatever business there is from india’s top companies. Meanwhile the Big Four, as these four auditing and consultancy firms are referred to, practically straddle india’s corporate scene by handling the auditing assignments of the maximum number out of the top 500 companies.

CCI to investigate if the Big Four PwC, EY, Deloitte and KPMG abusing dominant position in Indian audit market

Apparently almost each one among the Big Four have come under the cosh in recent times. PwC had to sit out for 2 full years after an accounting fraud that was going on for many years was. Currently here is a similar ban on one of the Ernst & Young (EY) firms which is on and will run till 2020. Further the IL&FS issue is coming to haunt both KPMG and Deloitte as the Ministry of Corporate Affairs wants to put a ban on both of them for 5 years and the top consulting firms want to fight this legally.



Moreover the CCI may be nudged by the MCA to undertake the investigation of these four companies on all these issues. Perhaps the investigation if it is carried out will be focused on whether the big four are also indulging in preventing competition from bagging the audit assignments with the top Indian companies.


CCI to investigate if the Big Four PwC, EY, Deloitte and KPMG abusing dominant position in Indian audit market
5/ 5 - (1 votes)
Add To Favourite
About the author

Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.