Auditor Concentration and Market Shares in the Us: 1988–1999 a Descriptive Note

Wolk, Carel M.; Michelson, Stuart; Wootton, Charles W.

doi:10.1006/bare.2001.0159

Cited by 50 publications

(54 citation statements)

References 20 publications

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“…Simunic, 1980;Wolk et al, 2001, in the U.S.; Beattie et al, 2003, in the U.K.). An increased market concentration and therefore a perceived lower level of market competition restrains the number of suppliers to choose from and creates the possibility of abnormally high prices due to monopoly rents as well as suboptimal audit quality due to an absence of effort and investments.…”

Section: Audit Market Concentrationmentioning

confidence: 99%

Joint Audit: Issues and Challenges for Researchers and Policy-Makers

Ratzinger‐Sakel

Audousset-Coulier

Kettunen

et al. 2013

Accounting in Europe

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The publication of the European Commission Green Paper, "Audit Policy: Lessons from the Crisis" in October 2010, has stirred up a lively debate on the role of joint audits. This literature review identifies and evaluates, for the benefit of future research and regulators, existing evidence about joint audits. We find limited empirical support to suggest that joint audits lead to increased audit quality, but some empirical support to suggest that joint audits lead to additional costs. Overall, this paper indicates that joint audit should be seen as a mechanism that is embedded in a broader institutional context, and not be considered in isolation from other factors that might impact the audit market. The results indicate that various country-level characteristics are simultaneously at play. While joint audits can potentially enhance the audit market competition by allowing smaller audit firms to maintain larger market shares, the related impact on audit quality has not yet been clearly demonstrated and thus provides a promising avenue for future research.3

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Section: Audit Market Concentrationmentioning

confidence: 99%

Joint Audit: Issues and Challenges for Researchers and Policy-Makers

Ratzinger‐Sakel

Audousset-Coulier

Kettunen

et al. 2013

Accounting in Europe

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“…Teoh & Wong, 1993). As the study by Wolk, Michelson and Wootton (2001) shows, by 1999 smaller accounting firms had virtually been eliminated from the NYSE market, and over 98% of the companies listed on the NYSE had been audited by the then Big Five accounting firms. Beattie, Goodacre and Fearnley (2003) Our accession to the international audit network marks a new stage in the development of our company.…”

Section: Audit Partnermentioning

confidence: 99%

Connecting worlds: The translation of international auditing standards into post-Soviet audit practice

Mennicken

2008

Accounting, Organizations and Society

151

139

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In a detailed field-study based investigation, it traces various attempts to articulate and link Soviet and post-Soviet worlds, old and new imagined audit worlds. The paper underscores the fragile and precarious nature of international standardisation projects. It shows how ideals of audit universalism and international comparability become enmeshed in, and challenged by, global divisions of audit labour, problems and practices of power and exclusion, and struggles for intra-professional distinction, which in turn undermine as well as promote the connecting of worlds through standards.

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“…Minyard and Tabor (1991) have demonstrated that the mergers of Big Eight form Big Six do not have a significant influence on the concentrarion. Wolk et al, (2001) in their research found an increasing concentration rates over time due to mergers among Big Eight and Big Six. Caban-García and Cammack (2009) have demonstrated an increase of concentration in the year after the merger of PriceWaterhouse and C&L and takeover of Arthur Andersen by Ernst & Young, and also have demonstrated a decreasing concentration rates two years after the merger.…”

Section: Literature Reviewmentioning

confidence: 93%

“…The study of the financial audit market structure, its competitive nature and its high level of concentration have been analyzed by a significant number of empirical studies collected by the accounting research literature (Zeff and Fossum, 1967;Rhode, Whitsell and Kelsey, 1974;Danos and Eichenseher, 1986;Moizer and Turley, 1987;Beattie and Fearnley, 1994;Wolk, Michelson and Wootton, 2001;Thavapalan, Moroney, and Simnett, 2002;Beattie, Goodacre and Fearnley, 2003;Carrera, Gutierrez and Carmona, 2005;Feldman, 2006;McMeeking, Peasnell and Pope, 2007;McMeeking, 2007;García Benau and Novejarque, 2009;Caban-García and Cammack (2009) ;Kallapur, Sankaraguruswamy and Zang, 2010;Dunn, Kohlbeck and Mayhew, 2011). The high level of concentration in the market for financial audit services has caused a negative impact, on the world professional practices, which are currently evident and affect the very essence of the professional practice of financial audit services.…”

Section: Introductionmentioning

confidence: 99%

Structure and Nature of Competition in the Market for Financial Audit Services in Mexico

Toscano

Benau²

2014

JBAR

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The structural paradigm emphasizes that the nature of competition in a market, is closely related to the structure of the market and in particular its level of concentration. The objective of this research work is to present empirical evidence on the structure and nature of competition in the market for financial audit services in Mexico during the period from 2000 to year 2007. To do this, we have calculated several measures of concentration, using a sample of 1,344 financial audit reports of companies that are registered as issuers of shares in the capital market of the Stock Exchange in Mexico. The results show that the market for financial audit market in Mexico is highly concentrated and under the control of a few audit firms, specifically of Large International Firms, better known in the field business around the world as the "Big 4". Also the results show that the nature of the competition in the market for financial audit services in Mexico is that, in imperfect markets, known as an oligopoly.

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Auditor Concentration and Market Shares in the Us: 1988–1999 a Descriptive Note

Cited by 50 publications

References 20 publications

Joint Audit: Issues and Challenges for Researchers and Policy-Makers

Joint Audit: Issues and Challenges for Researchers and Policy-Makers

Connecting worlds: The translation of international auditing standards into post-Soviet audit practice

Structure and Nature of Competition in the Market for Financial Audit Services in Mexico

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