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Preliminary communication

AUDIT MARKET CONCENTRATION – EVIDENCE FROM CROATIA

Sanja Sever Mališ ; University of Zagreb, Faculty of Economics and Business, Zagreb, Croatia
Mateja Brozović   ORCID icon orcid.org/0000-0001-7338-7494 ; University of Zagreb, Faculty of Economics and Business, Zagreb, Croatia

Fulltext: english, pdf (334 KB) pages 339-356 downloads: 1.269* cite
APA 6th Edition
Sever Mališ, S. & Brozović, M. (2015). AUDIT MARKET CONCENTRATION – EVIDENCE FROM CROATIA. Ekonomski vjesnik, 28 (2), 339-356. Retrieved from https://hrcak.srce.hr/150375
MLA 8th Edition
Sever Mališ, Sanja and Mateja Brozović. "AUDIT MARKET CONCENTRATION – EVIDENCE FROM CROATIA." Ekonomski vjesnik, vol. 28, no. 2, 2015, pp. 339-356. https://hrcak.srce.hr/150375. Accessed 5 Dec. 2020.
Chicago 17th Edition
Sever Mališ, Sanja and Mateja Brozović. "AUDIT MARKET CONCENTRATION – EVIDENCE FROM CROATIA." Ekonomski vjesnik 28, no. 2 (2015): 339-356. https://hrcak.srce.hr/150375
Harvard
Sever Mališ, S., and Brozović, M. (2015). 'AUDIT MARKET CONCENTRATION – EVIDENCE FROM CROATIA', Ekonomski vjesnik, 28(2), pp. 339-356. Available at: https://hrcak.srce.hr/150375 (Accessed 05 December 2020)
Vancouver
Sever Mališ S, Brozović M. AUDIT MARKET CONCENTRATION – EVIDENCE FROM CROATIA. Ekonomski vjesnik [Internet]. 2015 [cited 2020 December 05];28(2):339-356. Available from: https://hrcak.srce.hr/150375
IEEE
S. Sever Mališ and M. Brozović, "AUDIT MARKET CONCENTRATION – EVIDENCE FROM CROATIA", Ekonomski vjesnik, vol.28, no. 2, pp. 339-356, 2015. [Online]. Available: https://hrcak.srce.hr/150375. [Accessed: 05 December 2020]

Abstracts
Statutory audit is designated to protect the public interest and has a significant impact on the overall economy. There are concerns that the Big Four audit firms have become too dominant and that the collapse of one of these firms would disrupt the whole financial system. In terms of revenues received, the total market share of the Big Four audit firms for listed companies exceeds 90% in a vast majority of European Union Member States. Prior studies have shown that high audit market concentration limits the choice of auditor for large companies and sets a high barrier of entry for mid-tier audit firms, while the effect on audit quality and audit fees is still unclear. Therefore, the regulators are considering reforms to dilute the Big Four’s dominance and improve competition in the audit market. The paper reviews the proposed and implemented measures that are the most common, together with their advantages and drawbacks. In addition, the characteristics of the audit market in Croatia are investigated, with a focus on market concentration measured by standard measures such as the Concentration rate, the Herfindahl Hirschman Index and the Gini coefficient. According to market shares based on total clients’ assets and revenues, the audit market for listed companies is moderately to highly concentrated, with a decrease in the five-year period (2013 compared to 2008).

Keywords
Audit; audit concentration; Big Four audit firms; audit market reforms; audit market in Croatia

Hrčak ID: 150375

URI
https://hrcak.srce.hr/150375

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