Pregledni rad
https://doi.org/10.51650/ezrvs.19.3-4.4
Audit "on sale": too much responsibility – too low audit fees?
Marko Čular
orcid.org/0000-0002-4016-8778
; Ekonomski fakultet Sveučilišta u Splitu, Split, Hrvatska
Ivana Dropulić
orcid.org/0000-0003-3128-706X
; Ekonomski fakultet Sveučilišta u Splitu, Split, Hrvatska
*
Marina Knežević
; Stradivari trade d.o.o, Split, Hrvatska
* Dopisni autor.
Sažetak
Audit fees represent a key element in maintaining the quality and professional standards of auditing, particularly for public interest entities. The aim of this study is to examine the alignment between the actual audit fees charged and the recommended values set by the Croatian Audit Chamber, as well as to determine whether these fees are undervalued. The empirical research was conducted on a sample of small audit firms that audit public interest entities. Data were collected from transparency reports published in 2023 (for audits of the 2022 annual financial statements of public interest entities) and from the Croatian Audit Chamber’s calculator. By comparing the actual amounts with the recommended values, their consistency was analyzed and presented descriptively. The results indicate that the actual audit fees charged are, on average, 75% lower than the lower bound of the recommended range, clearly demonstrating a significant undervaluation. Such practice may negatively affect audit quality, as limited resources reduce the ability to perform comprehensive audit procedures. Furthermore, excessively low fees threaten the sustainability of audit firms and undermine market fairness, creating an uneven competitive environment compared to larger audit firms. In conclusion, the findings confirm the need to strengthen regulatory oversight and transparency, and to achieve greater alignment with the Croatian Audit Chamber’s recommendations. Establishing an adequate system of audit fees contributes to preserving professional standards, enhancing market discipline, and ensuring a high-quality and independent audit process.
Ključne riječi
audit fees; public interest entities; small audit firms; Croatian Audit Chamber; Republic of Croatia.
Hrčak ID:
341548
URI
Datum izdavanja:
23.12.2025.
Posjeta: 783 *