In light of limited evidence that the currently concentrated market for large public company audits has created significant adverse impact and the general lack of any proposals that were clearly seen as effective in addressing the risks of concentration or challenges facing smaller firms without serious drawbacks, we found no compelling need to take action. As a result, this report does not include any recommendations. We provided copies of a draft of this report to SEC, DOJ, PCAOB, and the Department of the Treasury. SEC, PCAOB, and DOJ provided technical comments, which have been incorporated where appropriate. Treasury had no.
