Рэнкинг крупнейших российских аудиторских организаций и групп: итоги 2024 года

The subject of this work is statutory audit as an audit, private and commercial service and its distinction from other private and commercial services, as well as from other audit services - cooperative and state audit services. The aim of the paper is to investigate whether the statutory audit service is the same or different, on the one hand, from other audit services, and on the other hand, from other private and commercial services. The purpose of the work is to highlight all the peculiarities, properties and characteristics of the statutory audit service provided by audit companies and entrepreneurial auditors to users.

The relevance of the study is due to the transformational processes in the domestic economy, which are accompanied by sanctions pressure from Western countries and internal problems, which increase the importance of independent financial assessment and consulting support of business. However, auditing industry itself is in crisis that requires detailed study and innovations. The purpose of the study is to analyze the consequences associated with changes in the normative basis of auditing activities regulation and to study the prospects for further development of audit market on the example of several regions of the Russian Federation (Moscow, St. Petersburg, Perm Krai and Sverdlov Region), interpret the results obtained and form a portrait of an auditing organization on this basis. The following methods were used in the study: observation, comparison, measurement, analysis, synthesis, induction, deduction, and modeling. The research methodology is based on the study and generalization of theoretical studies by domestic authors whose scientific interests are concentrated in the field of studying the auditing theory, legislative regulation, specifics of providing audit services, studying the regional audit market and prospects for its further development. Audit organizations of the following regional units acted as objects for statistical research: Moscow, St. Petersburg, Perm Krai and Sverdlov Region. As a result, the authors came to the conclusion that the number of auditors with a Single Certificate has the greatest impact on the revenue of audit organizations operating in federal cities, while in Sverdlov Region and Perm Krai such factor is the number of audit opinions issued. This fact indicates that there is a clear disparity in the market of audit services in relation to qualified personnel, most of whom are concentrated in the central regions of Russia, which increases the competitive potential. However, the cost of "federal" audit services remains quite high due to their quality and presence of a large number of customers willing to pay for it. In turn, business activity in the audit market of other regions is significantly lower. As a result, there is a necessity to attract customers by demonstrating flexibility in pricing and customer orientation, which affects the final cost and, as a rule, quality, but is compensated by the number of audit services provided. Scientific recommendations proposed by the authors are: expanding understanding of the essence of auditing, transformation of audit approaches, consolidation of audit market entities through the merger and acquisition of audit organizations to make it possible to continue competitive activities; development of new markets for audit services in the EAEU member states; diversification of audit company services to consolidate its position in the competitive market; increased demand for initiative audit services to provide preventive measures to identify and prevent tax risks, search for reserves, and optimization of business processes. The author's working out and proposals can be useful for auditors, audited persons and regulators of auditing activities in the Russian Federation to understand the situation in auditing industry in the region, as well as to develop theoretical and practical options for ensuring optimal efficiency of the audit market in Russia as a whole.

The analysis of the audit services market clearly demonstrates a significant fluctuation in the quantity and cost of services in different regions, which in most cases depends on the concentration of industrial enterprises, the solvency of the audit customers themselves and their understanding of the cost and quality of audit services. This article is dedicated to this, in which such fundamental issues of the activities of audit firms and auditors as entering the professional services market, the quality of such services, and pricing for audit services are examined. The analysis of the audit services market clearly demonstrates a significant fluctuation in the quantity and cost of services in different regions, which in most cases depends on the concentration of industrial enterprises, the solvency of the audit customers themselves and their understanding the cost and quality of audit services. The article considers such problems of the auditors and audit firms activities as entering the professional services market, the quality of such services, and pricing of audit services. The analysis of the market of audit services is presented, which demonstrates a significant fluctuation in the quantity and cost of services in different regions, which in most cases depends on the solvency of audit customers, the concentration of industrial enterprises and the quality of audit services provided. The analysis of the audit activities results and the state of the market for audit services indicates that the audit market suffers from changes occurring in the country, which indicate that the audit market is functioning and transforming as a result of a number of factors, in particular: crisis phenomena in society; stricter requirements for the audit profession by regulators; imperfection of the legislative framework; lack of a mechanism for pricing audit services; lack of punishment for false information in the reports of auditors; insufficient number of highly qualified auditors; decrease in solvency of audit customersю It was found that, along with a decrease in the number of subjects of audit activity in the Register of Audit Firms, there is a tendency to increase the volume of services provided. It is proved that in order to increase the value of the audit, introduce and operate a system for ensuring the quality of audit services, improve the professional knowledge of practicing accountants, increase the market for audit services and ensure the important role of the audit profession recognized in our society, constant monitoring and development of decisions on issues related to the functioning of the audit system in Ukraine are necessary. Keywords: audit, market, competition, audit quality, cost of audit services, subjects of audit activity

The article considers the necessity and importance of the existence of the market of professional services, outlines the nature and purpose of the audit in accordance with the current legislation of Ukraine, the functions and role of the Audit Chamber of Ukraine. The peculiarities of the regulatory and institutional framework for the provision of services by audit firms in the context of international and domestic legislation are highlighted. The analysis of the presence of the world's largest auditing companies in Ukraine has revealed the representation of each of the ten financial giants in the domestic market. The historical and institutional background for the formation of an unfair competitive environment in this area is highlighted, where the largest share belongs to BIG FOUR companies. The reasons of monopolization of the market of providing of audit services are investigated and the factors hindering the establishment and functioning of small audit firms are outlined. An analytical review of audit activity in the state is carried out in terms of regions and types of services rendered. Based on the research, it was discovered that the market for auditing services is diversified unevenly throughout the territory of Ukraine, in particular, the largest share of all audit companies belongs to the Kyiv region, where almost half of all participants of the market of professional services of the state are concentrated. On the basis of data evaluation over the last three years, a number of problems faced by the professional services market in Ukraine have been identified. On the basis of the analysis, the author developed S.W.O.T. analysis of the Ukrainian market of professional services. The analysis clearly outlines all four aspects, namely: strengths of the Ukrainian professional services market, weaknesses in the provision of audit services, potential opportunities for functioning of this market both within Ukraine and the international market, as well as threats in recent years. It is proved that the unfavorable socioeconomic situation in Ukraine requires quality provision of audit services, as well as the development of the institutional and legal environment and conditions that will promote an equitable and equitable distribution of financial services. Keywords : audit, financial (audit) services, market of professional services, audit companies, S.W.O.T. analysis.

Today, audit activity in Ukraine has a number of contradictions and misunderstandings. Lack of practical experience of auditors and the necessary resources, as well as a tight market lead to the fact that some audit firms do not perform their work well. The article reveals the shortcomings of audit activity, a number of factors influencing them, the situation and prospects for changes and development in the future, and the ways to solve existing problems. The analysis of the audit services market in Ukraine showed positive trends. Today we observe how it has expanded significantly and encompassed all areas of economic activity. The article provides a comparative description of the audit market by the total number of audit activity subjects (SAD) in 2014 - 2018. The audit market is proved to be suffering from changes in the country. The decrease in the number of audit activity subjects is associated primarily with tightening the requirements for auditors and changes in legislation, but this did not affect the volume of services provided. The problems of the market monopolization under the "Big Four" are noted. In fact, the audit of state-owned enterprises was handed over to four companies, which make up 0.4% of the total number of audit entities in Ukraine. It is emphasized that audit companies have shortcomings and unresolved issues, which include the lack of a unified audit program, the pricing of audit services, the insufficient number of methodological developments for audit control, the cost of certification of auditors, and the lack of guidelines for computerizing the audit. It is noted that the main areas of audit development in Ukraine include creating the mechanism for applying ISAs, developing the methodology for auditing financial statements of enterprises by industry, deepening cooperation between Ukrainian professional audit organizations with international and European professional organizations of accountants, auditors, developing a pricing mechanism for audit services, and improving the quality control of providing the audit services.

Nowadays, audit companies are introducing new professional services. There is due diligence among such audit services. Due diligence is a modern business technology, that helps to identify business-risks and make decision on how to improve business processes. The study of the problem is of interest because it helps to identify new problems and trends in the market of audit services. The study objective is to develop the risk-oriented approach methodology for planning due diligence. Based on the results of the study, special matrix for performing due diligence is presented. All stages of due diligence are described. The algorithm of risk-oriented planning of due diligence is disclosed. Due to the absence of special standards for planning agreed-upon procedures, including due diligence, the scheme and the due diligence algorithm are proposed that provide an understanding of the process of conducting an expertise of due diligence object, as well as the features of the pre-due diligence planning.

The authors conducted a study aimed to identify discrepancies between the practice in providing audit services and the regulatory framework for their implementation in Ukraine. The purpose of article is to answer questions: are there any differences between the practice of development of types of audit services and regulatory documents for their implementation based on the experience of Ukrainian auditors; what are the differences in the practice of auditing firms in classifying and using the auditors terminology in contrast to the standards and requirements of the legal documents. A hypothesis was formulated, which later on received a confirmation. By carrying out analytical procedures, the theoretical approaches to the classification of audit services were considered. The authors correlate different classification of audit services in normative documents, including documents of the professional organization of auditors. The results of the study of the terminology content, which is used to identify different types of audit services, have shown the differences between scientists' opinions and different interpretations in auditors practice. Current research is aimed at improving the theoretical and practical provisions for the implementation of related and other services of professional audit services, development of concepts for theoretical support and practical implementation for harmonization of legal regulations and practices of auditors (audit firms). The conclusion of this paper helps to identify vectors in the development of a regulatory framework of audit services on the national level.

Abstract. There has been a strong growth in accounting firms' provisions of nonaudit services to their audit clients. To date, however, there have been few studies into the determinants of this joint provision of audit and nonaudit services. One reason for the paucity of research is the lack of publicly available data with which to empirically examine relationships and test theories. However, recent legislation in the United Kingdom requires publication of nonaudit fees paid to a company's auditor, and this disclosure provides the data with which to investigate the joint provision of consultancy and audit services. A model is developed that seeks to explain a company's decision to hire nonaudit services from the auditor. The model argues that companies that face potentially high agency costs purchase relatively smaller amounts of nonaudit services from their auditor. High agency‐cost companies require independent audits in order to reassure investors and creditors; the provision of joint services, which increases the economic bonding of the auditor to the client, may jeopardize independence or the appearance of independence. The model is tested using data observations from 500 companies, and the results indicate that companies that have higher agency‐cost proxies are associated with smaller purchases of nonaudit services from their auditors.

Internet usage has increased rapidly in recent years. Following its development, many companies have become more competitive by cooperating with electronic commerce or e-commerce. The ability to conduct transactions between two or more people using a computer network is called e-commerce. In e-commerce, all transactions are conducted electronically and some accounting systems can be accessed by external parties, thus affecting the internal control of the company. This raises new issues related to business operations, licensing and security of company assets. Since all evidence is electronic, this change also affects the company's audit work carried out by external auditors. External auditors need to understand the internal accounting control system to obtain reliable evidence. External auditors must use audit software to collect evidence, analyze evidence, and test internal and external controls. Therefore, the purpose of this study is to determine whether there is a significant influence between audit information and e-commerce on audit services. This study uses a systematic literature review (SLR) to systematically analyze most articles published between 2019 and 2024.

In modern economic science, audit is considered more as a tool to confirm the reliability of financial statements, which has the appropriate level of institutional development, regulatory system and social significance. However, to date, audit should also be considered as a type of business activity on the effectiveness of which depends on the quality of the audit as a tool to confirm the reliability of the financial statements. The audit company is a full-fledged business entity in which a large number of stakeholders are interested. In addition, the audit firm implements publicly available audit services (proactive or required). Audit business is widespread in Ukraine due to the need to audit the financial statements and increase the range of businesses of public interest. The purpose of the article is to investigate the economic activity of an audit company as an object of economic analysis. In the course of the study, a quantitative analysis of domestic audit entities by region was analyzed. According to the Register of Auditors and Audit Entities, promulgated by the Audit Chamber of Ukraine, as of the end of 2019, there are 898 auditing entities operating in Ukraine, and their distribution by area depends on the client base, that is, the development of enterprises in different sectors of the national economy, which are subject to statutory audit. It should also be noted that in the context of dynamics, the number of audit entities is significantly decreasing, in particular at this stage of the development of the audit business there is a tendency for the consolidation of audit firms. The study found that in order to ensure the development of the audit market and the quality of audits, there is a need to assess the capacity of audit entities, and this requires a change in the area from audit to audit as a business activity. This study modeled the economic activity of an audit firm as an object of economic analysis. The presented model points to the characteristics of the business activity of audit firms as an object of economic analysis, in particular: the formation of resources for auditing; resource efficiency in the context of managing the economic potential of an audit firm; dependence of efficiency of business activity of the audit firm on client and reputation capital; the process of implementation of audit and related services by an audit firm; performance of audit firms.

The study identifies key trends impacting the business services industry in 2023, including the strong post-pandemic recovery of demand, increased demand for recruitment services, and increased funding for R&D. The research highlights the growing importance of tax audit in the business development process, as evidenced by the increasing share of advisory audit services and tax consulting in the global market. The study presents the global tax audit turnover, indicating its growth and popularity in the business services industry. The research examines the fastest-growing business services markets, with China being the fastest-growing market in terms of absolute and CAGR growth. The study discusses the dominance of accounting and audit companies in the top 10 list of leading companies in the business services industry, emphasizing the significance of audit, tax, and advisory services. The research emphasizes the need for tax audit services in the current business environment, where constant changes and increasing information turnover make it challenging for businesses to adapt. The research highlights the importance of tax audit in financial control for business owners and international companies operating in Ukraine, as well as its role in tax optimization and planning. The study identifies business trends that require auditors to be prepared to provide tax audit and tax optimization services, including the adoption of automation and artificial intelligence, personalized offers, and the adoption of value-based business models. The scientific novelty of the study lies in its comprehensive analysis of the current state and future trends in the business services industry, with a specific focus on tax audits. The study provides insights into the growing demand for tax audit services, the challenges and opportunities in the industry, and the potential for tax optimization and planning. It contributes to the existing literature by highlighting the significance of tax audits in ensuring business prosperity and offering recommendations for improving the organizational and methodological aspects of tax audits in the business services sector.

Over the last few decades service quality has been investigated by many managers, researchers and scholars due to its influence on business success, measured with growing profitability, customer satisfaction, loyalty towards service provider, etc. (Cronin, Taylor, 1992; Chang, Chen, 1998; Silvestro, Cross, 2000; Zeithaml, Bitner, 2003, et al.). Quality is crucial in order to increase an organization’s comparative advantage, achieve long-term positive image and increase sales (Ruževicius, 2006). The stressed importance of service quality has triggered a plentiful amount of research revealing different approaches and new concepts (Finn, Lamb, 1991; Kettinger, Lee, 1995). The results of the research imply that an analysis of service quality should be conducted in each service provider’s organization, choosing an appropriate quality research approach and methodology (Edvardsson, 1996). General rules and concepts should be adapted to a particular service’s specifics in order to increase efficiency of service quality management (Suuroja, 2003). Emerging new theoretical models, such as internet banking (Broderick, Vachirapornpuk, 2002) and information technologies-based services (Zhu et al., 2002) evince the development of the service quality concept in various services. The financial audit service can be seen as an inseparable part of the controlling system in each country with a modern economy (Lakis et al., 1992; Lakis, 2007; Mackevicius, 2009). Historical circumstances imply that when an audit’s functions become weaker, not meeting markets’ expectations, it is common to doubt whether the audit system is working effectively, as well as whether particular audit companies are carrying out their work in a quality way. These thoughts are justified when breaches of auditors’ work have been detected. The quality of the financial audit service (further – audit quality) has already been researched for three decades, however, as the Financial Reporting Council of Great Britain (Financial Reporting..., 2006) states, there is no single definition of audit quality. This point of view can be explained by audit service complexity: due to triangular relationships between auditors,

Also published in Regulation of Financial Institutions Journal CMBO (December 2009). From the responses received from the European Commission’s consultation on control structures in audit firms and their consequences on the audit market, a consultation which was launched in November 2008, and whose deadline was scheduled for the end of February 2009, the role played by the facilitation of greater access to external financial capital as a means of increasing access to the audit market, hence opening up the market for the audit of international companies to more suppliers, and encouraging new market players, was acknowledged. However, this factor on its own, coupled with the need to amend current rules on the control of audit firms, namely through a relaxation of the rules – beyond that which is currently permitted under Article 3 of the 2006 Statutory Audit Directive, was not considered to be the most important source of impediment to the emergence of new players. Other further possible catalysts, both on the supply side (namely auditors) and the demand side (companies), were also considered vital to efforts aimed at encouraging more players in gaining access to the international audit market. This paper will focus on greater access to external financial capital - as a means of lowering barriers to the international audit market. In arriving at the conclusion that the benefits associated with the external investor model outweigh the possible risks it generates, the paper not only considers theories on managerial behaviour and ownership structure, but also gives attention to the safeguards for audit independence as listed under the 2002 Statutory Auditors’ Independence in the EU: A Set of Fundamental Principles, and the 2006 Statutory Audit Directive. It will also consider why, in view of the limitations and restrictions placed on audit firms, with particular reference to the Sarbanes Oxley Act of 2002, actions aimed at encouraging new market players at EU level, whilst ensuring that auditors’ independence and audit quality are not compromised, would also require a consideration of an international dimension of issues involved in lowering barriers to entry.

[Purpose]This study examines how the proportion of audit firms’ audit revenue affects the cost of equity capital of audited firms.
 [Methodology]In this paper, regression analysis is performed based on a Korean sample of 301 observations between the years 2019 and 2020, when the standard audit hours policy was introduced under the revised Act on External Audit of stock companies.
 [Findings]This study shows that the higher the ratio of audit revenue to the total sales of audit firms’, the lower the cost of equity capital of the audited firms. This result suggests that when the proportion of audit sales of an audit firm is high, the firm’s cost of equity capital is reduced by accumulating related experiences by focusing on audit service, and improving the quality and reliability of the audited firm’s financial reporting. Specifically, the result is found firms with higher largest shareholder ownership, lower foreign investor equity, and lower governance score of the Korea Corporate Governance Service (KCGS).
 [Implications]Unlike most of the literature that considers the size of audit firms as the main characteristic of auditors, this study has a major contribution in that it empirically analyzes the correlation between various characteristics such as the sales structure of audit firms and the cost of equity capital. Furthermore, it provides practical implications that the audited firm should consider the auditor’s financial characteristics, such as sales structure, as well as the reputation and size of the audit firm in a situation where the audit fee burden of listed firms is increasing.

Audit fees refer to the financial compensation received by accounting firms and auditors in return for the delivery of their professional services. These services encompass a range of operations, including the analysis of financial statements, evaluation of internal controls, and performance of numerous other tasks linked to auditing. Typically, organizations remunerate external audit firms for their services through fees, which can be either annual or based on the specific services rendered. The remuneration for audit services is commonly subject to variability, with adjustments made based on the particular audit engagement's scope and complexity. This paper delves into the correlation between information asymmetry and audit fees. The concept of information asymmetry arises when there is an unequal distribution of information between two parties involved in a transaction, leading to an imbalance in knowledge. This phenomenon has a notable influence on the determination of audit fees. This paper examines the theoretical underpinnings, empirical findings, and practical ramifications of the impact of information asymmetry on audit costs and the quality of audit services. The work analyzes the elements that contribute to information asymmetry by conducting a comprehensive review of current literature and empirical studies. Through this analysis, the study sheds light on the complex dynamics between information asymmetry, audit fees, and audit quality.