On 29 July 2011, the OFT published a consultation on its provisional decision to refer the market for statutory audit services to large companies in the UK to the Competition Commission for a market investigation under the Enterprise Act 2002. The OFT has identified a number of features of the market that it believes prevent, restrict or distort competition. In particular, the audit market for large companies in the UK is highly concentrated, with substantial barriers to entry and low levels of switching. The combination of these features gives rise to a stable market with limited opportunities for rivalry and few changes in market shares over time. The OFT considers that a reference would be proportionate to the scale of the problems identified, that undertakings in lieu are unlikely to be appropriate, and that there is a reasonable chance that appropriate remedies would be available to the Competition Commission. The OFT invites comments on its provisional decision by 9 September 2011.