Responding to the publication of an inquiry by two parliamentary committees, which found Carillion’s collapse was down to a “rotten corporate culture”, the Leader of the Liberal Democrats Vince Cable MP said: 

“Previous attempts to open up the audit market have been far too weak and failed to deal with the major structural problem.

“I and others have called for radical reform for years. It is now clear that we need to break up the Big Four and shatter this cosy club to create a more competitive, truly diverse market.”