U.K. regulators proposed sweeping changes to rules governing British audit firms Tuesday in moves designed to increase competition, prevent conflicts of interest and restore public confidence in an industry tarnished by an accounting scandal that led to the collapse of one of Britain’s largest construction companies. The measures, if implemented, would see audit firms separate their auditing and consulting operations, introduce two-firm audits for large companies and replace the current auditing regulator. The changes were...

Source: Wall Street Journal December 18, 2018 16:27 UTC