The UK regime for financial reporting and auditing was radically altered in 1990 and 1991 by two separate developments. When removing sole responsibility for setting accounting standards from the accounting profession, the opportunity was taken to establish a monitoring body, the Financial...

As part of a deregulation initiative for small businesses, the audit exemption limit was raised to £1m by the Audit Exemption (Amendment) Regulations 2000 in May 2000. This paper examines the possible consequences of this change on the supply of registered auditors' services and the subsequent...