Professional Services

Private equity firms in talks with audit watchdog over more takeovers

At least six audit firms have approached the FRC about the possibility of a change in capital structure over the past two years, FN can reveal

Financial Reporting Council chief executive Richard Moriarty
Financial Reporting Council chief executive Richard Moriarty Photo: Bloomberg via Getty Images

More buyout shops could soon enter the audit sector as firms and investors line up talks with regulators to discuss potential takeovers.

An audit firm approached the Financial Reporting Council in June about potentially changing its capital structure, according to data provided to Financial News in response to a Freedom of Information Act request. An investor approached the FRC in July about a similar change, the data also shows. At least six such moves have been made over the past two years.

WSJ Logo
Threats to Fed Independence Are ‘Very Worrying,’ ECB’s Lagarde SaysExternal link

Threats to Fed Independence Are ‘Very Worrying,’ ECB’s Lagarde Says