Audit and consulting services sector to face ‘unbundling’ by competition laws?

Audit and consulting services sector to face ‘unbundling’ by competition laws?

Lately in Europe, international accounting and consulting firms have been facing a number of legal issues due to infringements of audit, finance and competition laws. After a market study, the UK’s Competition and Markets Authority (CMA) has published proposals for improvements in the auditing sector; among them, legislative amendments to split up auditing from consulting services. This ‘unbundling’ of activities […]

2018:371 Ernst & Young v Konkurrenceradet

2018:371 Ernst & Young v Konkurrenceradet

Reference for a preliminary ruling — Control of concentrations of undertakings — Regulation (EC) No 139/2004 — Article 7(1) — Implementation of a concentration prior to notification to the European Commission and declaration of compatibility with the common market — Prohibition — Scope — Concept of ‘concentration’ — Termination of a cooperation agreement with a third party by one of the merging undertakings