Low fund audit turnover cements dominance of ‘Big Four’ – Ignites Europe

Fewer than 15 per cent of funds have changed their auditor over the past three years, helping the Big Four audit firms to maintain their stranglehold over fund accounting.

Just 14 per cent of UK, Luxembourg and Ireland umbrella funds have changed their auditor over the period, according to analysis by Fitz Partners.

The research also shows that turnover among fund administrators and custodians is rarer, with changes taking place at fewer than 5 per cent of funds over the past three years.

view full article