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Statutory audit services market investigation


Date of referral: 21.10.11        Statutory deadline: 20.10.13

Email: auditors@cc.gsi.gov.uk


Responses to working papers

PartyDate published 

Barriers to entry: international networks

BDO (PDF, 29 Kb) 

Deloitte (PDF, 63 Kb) 

Ernst & Young (PDF, 115 Kb) 

KMPG (PDF, 83 Kb) 

Mazars (PDF, 87 Kb) 

PwC (PDF, 81 Kb) 

 

 

10.12.12

10.12.12

10.12.12

10.12.12

10.12.12

11.12.12

Barriers to entry: reputation and experience

BDO (PDF, 29 Kb) 

Deloitte (PDF, 84 Kb) 

Ernst & Young (PDF, 115 Kb) 

Grant Thornton (PDF, 69 Kb) 

KPMG (PDF, 189 Kb) 

PwC (PDF, 114 Kb) 

 

 

22.11.12

22.11.12

22.11.12

22.11.12

22.11.12

22.11.12

Bundling of audit and non-audit services

BDO (PDF, 55 Kb) 

KPMG (PDF, 71 Kb) 

PwC (PDF, 28 Kb) 

 

 

10.12.12

10.12.12

10.12.12

CC commissioned research: Report on Auditor Clauses in Loan Agreements, prepared by Cardiff Business School

BDO (PDF, 24 Kb) 

KPMG (PDF, 24 Kb) 

PwC (PDF, 21 Kb) 

 

 

10.12.12

10.12.12

10.12.12

Characteristics of long audit tenure companies

BDO (PDF, 11 Kb) 

Deloitte (PDF, 77 Kb) 

KPMG (PDF, 111 Kb) 

PwC (PDF, 81 Kb)  An econometric analysis of the prices of large company audits (PDF, 573 Kb) 

 

 

11.12.12

11.12.12

11.12.12

19.12.12

Competition Commission survey results

BDO (PDF, 24 Kb) 

Deloitte (PDF, 62 Kb) 

Ernst & Young (PDF, 115 Kb) 

KPMG (PDF, 302 Kb) 

Mazars (PDF, 90 Kb) 

PwC (PDF, 109 Kb) 

 

 

09.11.12

09.11.12

09.11.12

09.11.12

09.11.12

20.12.12

Descriptive statistics

BDO (PDF, 19 Kb) 

Ernst & Young (PDF, 115 Kb) 

Grant Thornton (PDF, 98 Kb) 

KPMG (PDF, 94 Kb) 

Mazars (PDF, 84 Kb) 

PwC (PDF, 69 Kb) 

 

 

23.11.12

23.11.12

23.11.12

23.11.12 

23.11.12

16.11.12

Econometric analysis of audit costs

BDO (PDF, 10 Kb) 

Deloitte (PDF, 63 Kb) 

Ernst & Young (PDF, 50 Kb) 

Grant Thornton (PDF, 67 Kb) 

KPMG (PDF, 79 Kb) 

PwC (PDF, 81 Kb)  An econometric analysis of the prices of large company audits (PDF, 573 Kb) 

 

 

11.12.12

11.12.12

11.12.12

11.12.12

11.12.12

19.12.12

Economies of scale in operating costs

BDO (PDF, 26 Kb) 

KPMG (PDF, 63 Kb) 

PwC (PDF, 26 Kb) 

 

 

10.12.12

10.12.12

10.12.12

Engagement level profitability analysis

BDO (PDF, 32 Kb) 

Deloitte (PDF, 69 Kb) 

Ernst & Young (PDF, 57 Kb) 

Grant Thornton (PDF, 103 Kb) 

KPMG (PDF, 91 Kb) 

PwC (PDF, 81 Kb)  An econometric analysis of the prices of large company audits (PDF, 573 Kb) 

 

 

13.12.12

13.12.12

13.12.12

13.12.12

13.12.12

19.12.12

Evidence of tacit coordination

BDO (PDF, 36 Kb) 

Ernst & Young (PDF, 115 Kb) 

Grant Thornton (PDF, 115 Kb) 

KPMG (PDF, 66 Kb) 

Mazars (PDF, 68 Kb) 

PwC (PDF, 29 Kb) 

 

 

23.11.12

23.11.12

23.11.12

23.11.12 

23.11.12

23.11.12

Evidence on switching costs (and implications for barriers to entry)

BDO (PDF, 35 Kb) 

Deloitte (PDF, 169 Kb) 

Ernst & Young (PDF, 115 Kb) 

KPMG (PDF, 118 Kb) 

Mazars (PDF, 90 Kb) 

PwC (PDF, 78 Kb) 

 

09.11.12

09.11.12

09.11.12

09.11.12

09.11.12

04.12.12

Evidence relating to the selection process: tendering, annual renegotiations and switching

BDO (PDF, 21 Kb) 

Deloitte (PDF, 108 Kb) 

Ernst & Young (PDF, 116 Kb) 

KPMG (PDF, 165 Kb) 

Mazars (PDF, 88 Kb) 

PwC (PDF, 152 Kb) 

 

 

05.12.12

05.12.12

05.12.12

05.12.12

05.12.12

05.12.12

Firms' stated competitive strategies

BDO (PDF, 45 Kb) 

Deloitte (PDF, 72 Kb) 

Ernst & Young (PDF, 115 Kb) 

Grant Thornton (PDF, 90 Kb) 

KPMG (PDF, 76 Kb) 

Mazars (PDF, 66 Kb) 

PwC (PDF, 129 Kb) 

 

09.11.12

09.11.12

09.11.12

09.11.12

09.11.12

09.11.12

05.12.12

Law and Regulation

BDO (PDF, 14 Kb) 

Deloitte (PDF, 338 Kb) 

Ernst & Young (PDF, 101 Kb) 

Grant Thornton (PDF, 74 Kb) 

KPMG (PDF, 178 Kb) 

Universities Superannuation Scheme (USS Limited) (PDF, 573 Kb) 

PwC (PDF, 152 Kb)  

 

 18.12.12

17.12.12

 18.12.12

20.12.12

18.12.12

18.12.12

20.12.12

Liability, insurance and settlements

BDO (PDF, 11 Kb) 

Deloitte (PDF, 59 Kb) 

Ernst & Young (PDF, 116 Kb) 

KPMG (PDF, 55 Kb) 

Mazars (PDF, 53 Kb) 

PwC (PDF, 22 Kb) 

 

09.11.12

09.11.12

09.11.12

20.11.12

09.11.12

09.11.12

Nature and strength of competition in the supply of FTSE 350 audits

BDO (PDF, 47 Kb) 

Deloitte (PDF, 206 Kb) 

Ernst & Young (PDF, 116 Kb) 

Grant Thornton (PDF, 89 Kb) 

KPMG (PDF, 212 Kb) 

Mazars (PDF, 146 Kb) 

PwC (PDF, 487 Kb) 

 

 

21.11.12

21.11.12

21.11.12

21.11.12

21.11.12

21.11.12

21.11.12

Overview

Ernst & Young (PDF, 107 Kb) 

Grant Thornton (PDF, 110 Kb) 

 

 

04.12.12

04.12.12

Price concentration analysis

BDO (PDF, 19 Kb) 

KPMG (PDF, 26 Kb) 

Oxera (PDF, 33 Kb) 

PwC (PDF, 81 Kb)  An econometric analysis of the prices of large company audits (PDF, 573 Kb) 

 

 

04.12.12

04.12.12

04.12.12

19.12.12

Profitability analysis – Parts One and Two

Oxera on behalf of BDO and Grant Thornton (PDF, 39 Kb) 

Deloitte (PDF, 142 Kb) 

KPMG (PDF, 231 Kb) 

PwC (PDF, 58 Kb) 

 

 

13.12.12

13.12.12

13.12.12

13.12.12

Restrictions on entry or expansion working paper

BDO (PDF, 58 Kb) 

Deloitte (PDF, 813 Kb) 

Ernst & Young (PDF, 113 Kb) 

Grant Thornton (PDF, 91 Kb) 

KPMG (PDF, 160 Kb) 

Mazars (PDF, 105 Kb) 

PwC (PDF, 94 Kb) 

 

 

17.10.12

17.10.12

17.10.12

17.10.12

17.10.12

17.10.12

17.10.12

The framework for the CC’s assessment and revised theories of harm working paper

BDO (PDF, 599 Kb) 

Deloitte (PDF, 315 Kb) 

Ernst & Young (PDF, 108 Kb) 

Grant Thornton (PDF, 110 Kb) 

KPMG (PDF, 204 Kb) 

Mazars (PDF, 155 Kb) 

PwC (PDF, 156 Kb) 

 

 

17.10.12

17.10.12

17.10.12

17.10.12

17.10.12

17.10.12

17.10.12

Market Definition

BDO (PDF, 38 Kb) 

KPMG (PDF, 62 Kb) 

Mazars (PDF, 67 Kb) 

PwC (PDF, 38 Kb) 

 

25.10.12

25.10.12

25.10.12

25.10.12

The life cycle of FTSE 350 companies

BDO (PDF, 21 Kb) 

Deloitte (PDF, 52 Kb) 

KPMG (PDF, 63 Kb) 

PwC (PDF, 81 Kb)  An econometric analysis of the prices of large company audits (PDF, 573 Kb) 

 

 

11.12.12

11.12.12

11.12.12

19.12.12

The suppliers of statutory audit services to large companies

BDO (PDF, 16 Kb) 

Ernst & Young (PDF, 27 Kb) 

KPMG (PDF, 49 Kb) 

PWC (PDF, 18 Kb) 

 

26.10.12

26.10.12

21.11.12

15.11.12

Development of the statutory financial audit

Deloitte (PDF, 41 Kb) 

Ernst & Young (PDF, 95 Kb) 

KPMG (PDF, 110 Kb) 

Mazars (PDF, 71 Kb) 

Mr Tony Shearer (PDF, 71 Kb) 

PWC (PDF, 105 Kb) 

 

 

26.10.12

26.10.12

26.10.12

26.10.12

26.10.12

15.11.12

Views of investors and other stakeholders

BDO (PDF, 56 Kb) 

Deloitte (PDF, 62 Kb) 

Ernst & Young (PDF, 107 Kb) 

Grant Thornton (PDF, 81 Kb) 

Kingston Smith (PDF, 671 Kb) 

KPMG (PDF, 47 Kb) 

PwC (PDF, 79 Kb) 

 

13.12.12

13.12.12

17.12.12

20.12.12

 

 

 

 

13.12.12

13.12.12

13.12.12

13.12.12

 

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