TAILIEUCHUNG - Continued Concentration in Audit Market for Large Public Companies Does Not Call for Immediate Action

With the audit market concentrated among the four largest firms, concerns have been raised about the number of choices that companies have when selecting an auditor and the extent of competition in the market. In 2003, we conducted a study (mandated by the Sarbanes-Oxley Act) on consolidation that had occurred in the accounting profession. Our study followed the dissolution of one of the then-five largest accounting firms, Arthur Andersen. At that time, we found that although audits for large public companies were highly concentrated among the largest accounting firms, the market for audit services appeared competitive according to various indicators. 6 . | United States Government Accountability Office GAO Report to Congressional Addressees January 2008 AUDITS OF PUBLIC COMPANIES Continued Concentration in Audit Market for Large Public Companies Does Not Call for Immediate Action GAO-08-163 January 2008 À GAO Accountability Integrity Reliability Highlights Highlights of GAO-08-163 a report to congressional addressees Why GAO Did This Study GAO has prepared this report under the Comptroller General s authority as part of a continued effort to assist Congress in reviewing concentration in the market for public company audits. The small number of large international accounting firms performing audits of almost all large public companies raises interest in potential effects on competition and the choices available to large companies needing an auditor. This report examines 1 concentration in the market for public company audits 2 the potential for smaller accounting firms growth to ease market concentration and 3 proposals that have been offered by others for easing concentration and the barriers facing smaller firms in expanding their market shares. GAO surveyed a random sample of almost 600 large medium and small public companies on their experiences with their auditors. GAO also interviewed the four largest accounting firms and surveyed all other . accounting firms that audit at least one public company. GAO also developed an econometric model that analyzed the extent to which various factors including concentration and new auditing requirements affected fee levels. To supplement this work GAO interviewed market participants including public companies investors accounting firms academics and regulators. This report makes no recommendations. To view the full product including the scope and methodology click on GAO-08-163. To view the results of GAO s surveys to public companies and accounting firms click on GAO-08-164SP. For more information contact Orice Williams at 202 512-8678 or williamso@. AUDITS OF .

• Kế toán - Kiểm toán
• Surface Compounds
• Cuticular Waxes
• Terpenoids
• Major Volatile
• Compounds Analysis
• Mezcal Fermentation
• Tạp chí khoa học
• Bioactive compounds
• Extraction temperature
• Extraction time
• Pouzolzia zeylanica plant
• Response surface methodology