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UK auditors are rubbish at their jobs - Richard Murphy

17th May 2024

UK auditors are rubbish at their jobs. Major audit failures - on Carillion, BHS, Patisserie Valerie and others - prove that, as do the £150 million or so of fines large audit firms have paid for substandard audit work in the last decade or so. So what can be done about this? Do audit firms need to be broken out of the consulting firms they're linked to, or should the government take on the job instead?

Richard Murphy is Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best known book is ‘The Joy of Tax'.