Budget 2011 reaction: Welcome news for 2nd tier accountancy firms
MacIntyre Hudson, the top 20 accountancy firm, has reacted swiftly to welcome the news - given in the Plan for Growth - that the Chancellor has asked the OFT to look into claims that lending agreements made by banks are unfairly restricting competition in the audit market.
Rakesh Shaunak, Chairman of the firm's London office, said: "The fact that many banks make loans dependent on audits being carried out by top tier accountancy firms restricts competition. To open up the field means that companies will be able to get better value and the next tier of firms can expand."
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Media Contacts
Rakesh Shaunak, Nigel May and Patrick King are available for pre- and post-budget comment. Contact Carole Scott or Kate Baker in the MacIntyre Hudson Budget Press Office:
Carole: 07791 253436
Kate: 07949 565585
MacIntyre Hudson landline: 0207 429 4100
