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The financial crisis shook the financial markets about 10 years ago. The auditing profession was also found guilty in part. The EU Commission took this as an opportunity to explicitly intervene in the audit market.
Apart from other changes that were introduced by reforms, the most significant one is limiting the maximum duration of the auditor client relationship. Such a restriction is called external rotation and is effective for public interest entities within the European Union since 06/16/2016. The main focus inside that book is put on the analysis of the pricing of (future) audit services that are related to such entities. Therefore, the author initially analyses archive data from German listed entities for the periods 2005 – 2017. In this respect a systematic literature analysis is performed in order to capture the most relevant control variables for the regression model.
Additionally, the author assesses the future development on audit fees by qualitative prognostics based on different scenarios that might appear. It can be shown that cross-border audits will become problematic if more than one entity inside the group is effected by external rotation.
keywordsAbschlussprüfer BIG-4 EU-Reformen Preissetzung Prüfungshonorar Prüfungsmarkt Richtlinie 2014/56/EU Verordnung (EU) Nr. 537/2014 Wirtschaftsprüfung
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