The market for audit services provided to public companies listed on the Polish capital market
Journal Title: Zeszyty Teoretyczne Rachunkowości - Year 2018, Vol 2018, Issue 97
Abstract
The aim of the article is to identify changes in the concentration on the market for audit services provided to public companies listed on the Warsaw Stock Exchange. The additional aim is to identify changes in the level of rotation among firms providing audit services to public companies listed on the Warsaw Stock Exchange. The research conclusions were based on the analysis of 2 652 annual reports prepared in the years 2011-2016 by companies listed on the Warsaw Stock Exchange. Reports came from the websites of the surveyed companies. The data was collected manually. It was found that in the years 2011–2016 the concentration in the market for audit services provided to public companies increased. Six audit firms, referred to in the article as “leading” firms, provided their services to over half of public companies. Their share in the audit services market varied across sectors. The level of rotation of audit firms providing their services to public companies in particular sectors was also different. It should be pointed out that the level of concentration in the market for audit services provided to public companies in Poland is lower than the average level of concentration for all EU countries. In Poland, in 2015, the CR4 indicator was around 41%, while the average value of this indicator for the EU countries was around 70%. So far, there has been no comprehensive analysis of the Polish audit services market in the relevant literature. This article seeks to fill a research gap in this respect.<br/><br/>
Authors and Affiliations
Jacek Gad
Keywords
Related Articles
- EP ID EP346198
- DOI 10.5604/01.3001.0012.0353
- Views 94
- Downloads 0
Legitimacy theory in accounting research
The main aim of the paper is to present the legitimacy theory and its applications. This theory is not well known in Poland, however, it is regarded as a significant basis in world-wide accounting research. In the first...
The assessment of reaching management control objectives in the public sector entities – results of survey research
The purpose of this article is to assess the realisation of goals of management control in public sector entities in Poland. To make the assessment, the authors formulated questions intended to confirm the knowledge of m...
The financial statements in „National Lampoon”
Economic developments in the United States in 2000–2001, particularly Enron and WorldCom scandal have made a phenomenon which was called creative accounting. With creative accounting we have to do, when permitted by law...
Integrated reporting: the concept of reporting business performance for the needs of 21st century
Integrated reporting brings together material information about an organization’s strategy, govern-ance, performance and prospects in a way that reflects the commercial, social and environmental context within which it o...
Selected directions of audit improvement in the 21st century – the Green Paper of the European Commission
The article presents selected directions of improvement of the process of fi-nancial statements examination. The author describes the changes made in the 21st century, which are designed to raise the quality of audit in...