Competition Commission: New audit guidelines for companies

Big companies tend to use big accounting firms to audit their books. Previously there were a lot of big accounting firms to choose from and as such they were known as 'The Big Eight'.

They have since merged, and we are now down to 'The Big Four', which has caused concern about how well the industry operates. The Competition Commission has been investigating.

The Today Programme's Evan Davis spoke with Laura Carstensen from The Competition Commission who is chair of the Audit Investigation Group.