Regulator gives green light on Big Four plans for audit separation The Financial Reporting Council (FRC) has given the go ahead for the Big Four firms to press on with the next stage of separating their audit divisions from the rest of the business. The Big Four – Deloitte, EY, KPMG and PwC – were asked by the regulator to submit their plans for operational separation of their audit practices by 23 October 2020. The FRC has since reviewed the plans with each of the firms, and today said it was “content” for the Big Four to move on to the next stage of implementation.