Britain’s audit sector, dominated by the so-called Big Four accountancy giants, is shortly expected to discover how it must reinvent itself amid a series of probes into alleged corruption, including one linked to the collapse of German electronic payments group Wirecard. The AFP reports that UK authorities want the industry to separate audit and consulting activities, while increasing oversight and competition following allegations of malpractice by Britain’s Big Four – comprising accountants Deloitte, EY, KPMG and PwC. Simon Youel, head of policy at Positive Money – which campaigns against market dominance in the financial sector – said there is a real problem with the UK market dominated by these four firms’.