G2TT
来源类型Discussion paper
规范类型论文
来源IDDP8417
DP8417 Evaluation of the Risks of Collective Dominance in the Audit Industry in France
Marc Ivaldi; Sébastien Mitraille; Olivier Billard
发表日期2011-06-01
出版年2011
语种英语
摘要The financial crisis drew attention to the crucial role of transparency and the independence of financial certification intermediaries, in particular, statutory auditors. Now any anticompetitive practice involving coordinated increases in prices or concomitant changes in quality that impacts financial information affects the effectiveness of this intermediation. It is therefore not surprising that the competitive analysis of the audit market is a critical factor in regulating financial systems, all the more so as this market is marked by various barriers to entry, such as the incompatibility of certification tasks with the preparation of financial statements or consulting, the expertise on (and the ability to apply) international standards for the presentation of financial information, the need to attract top young graduates, the prohibition of advertising, or the two-sided nature of this market where the quality of financial information results from the interaction between the reputation of auditors and audited firms. Against this backdrop, we propose a legal and economic study of the risks of collective dominance in the statutory audit market in France using the criteria set by Airtours case and, in particular, by analyzing how regulatory obligations incumbent on statutory auditors may favour the appearance of tacit collusion. Our analysis suggests that nothing prevents collective dominance of the auditors of the Big Four group in France to exist, which is potentially detrimental to the economy as a whole as the audit industry may fail to provide the optimal level of financial information.
主题Industrial Organization
关键词Airtours criteria Audit industry Collective dominance
URLhttps://cepr.org/publications/dp8417
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/537254
推荐引用方式
GB/T 7714
Marc Ivaldi,Sébastien Mitraille,Olivier Billard. DP8417 Evaluation of the Risks of Collective Dominance in the Audit Industry in France. 2011.
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