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Brief
"On 04/12/2024, the Financial Reporting Council (FRC) issued an update regarding Audit market competition update sets out FRC’s evolving approach. The report shows that the Big Four audit firms continue to dominate the market, but challenger audit firms' share of FT350 audit engagements grew to 13% in 2023. The total audit fees earned by firms in the PIE market reached £1.4 billion in 2023."
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