Regulator says 'robust reform' of the audit market is needed after high-profile company failures. : The UK's Big Four accountancy firms are facing a major shake-up under reforms proposed by the competition watchdog. The Competition and Markets Authority (CMA) wants to separate audit from consulting services, while also encouraging a wider choice of auditors. The review follows high-profile company collapses such as construction firm Carillion, which was audited by KPMG. The CMA said if its proposals "are not far-reaching enough", it "will persist until the problems are addressed".