Check out this interesting article found by the upcoming economist, Sami Al Suedi. It discusses how 99 out the 100 top firms in the UK are audited by only 4 accountancy firms.....ripe for collusuion!
They sell a similar product
they have a very high concentration ratio
the service they provide is relatively inelastic
it is difficult for new entrants to gain market share
Click here for article!
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