The corporate watchdog has scrapped its annual report card on the big four accounting firms’ audit quality after cutting the program size, shrinking the team responsible and giving its chief accountant, Doug Niven, the boot.
The decision comes amid heightened scrutiny of the big four firms following the PwC scandal, and as former competition watchdog Allan Fels calls for the white-collar quad to be broken up over conflicts of interest.
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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
