KPMG UK to form a new Audit Executive Committee

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KPMG has changed its UK governance structure in response to recommendations from the CMA. KPMG UK plans to create a new audit executive committee who will be responsible for managing the performance and risk of that part of the business as recommended by the CMA which called for audit arms to have a separate board and CEO. However, as reported by the FT the BEIS Committee highlights that this still falls short of recommendations that the big four split their audit and consulting arms.

The Financial Times, Cat Rutter Pooley, May 16th 2019