Why procurement should play a key role in buying external audit services

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With a recent study revealing that almost a third of the FTSE 100 have used the same auditor for more than 20 years, Antony Ray makes the case for increased procurement involvement. It was not too long ago that legal services and management consultancy were seen as areas which procurement should have little or no involvement in. Thankfully times have changed and …

Tendering of external audit: the competition commission’s recommendations

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Procurement has made great progress in recent years in influencing both Legal and Management Consultancy spend. However, procurement’s efforts to help re-negotiate or tendering the statutory auditing requirements have often fallen on stony ground. Lack of competition in the audit industry The Competition Commission (CC) has recently been seeking to address the Office of Fair Trading’s concerns relating to the …