The U.K.'s financial regulator made big waves this week when it ordered the big four accounting firms to split up their auditing and consulting businesses. But Bloomberg Tax correspondent Michael Kapoor says, despite a string of auditing scandals, this move is not nearly as aggressive as it could be.
Kapoor speaks with Talking Tax host Amanda Iacone about what this will mean for the big four firms and whether Parliament will make time in its already busy schedule to enact stronger accounting laws.
