The consultation examines possible ways to stimulate the emergence of new players in the international audit market, including the deregulation of the capitalisation of audit firms.
The consultation examines possible ways to stimulate the emergence of new players in the international audit market, including the deregulation of the capitalisation of audit firms.
The consultation follows the OXERA study on the ownership rules of audit firms and their consequences for audit market concentration published in October last year.
The consultation also refers to other barriers than access to capital which also play an important role in affecting the entry and could also be discussed: reputation as identified in the OXERA study. This includes the quality and expertise of staff; low switching rates; differences among firms in their international outreach; and differences in independence rules.
Deadline for consultation is 28 February 2009.
Press release
Consultation document
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