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The Analysis of Oligopolistic Structure on the Czech Audit Market
Šindelář, Michal ; Müllerová, Libuše (advisor) ; Králíček, Vladimír (referee) ; Vyleťalová, Květoslava (referee)
The dissertation thesis is processed in the form of a set of original and published articles with specific results from the methodologically or thematically related areas. The aim of the dissertation is to obtain information about the audit market in the Czech Republic from the point of view of oligopolistic structure and to compare the results with an international research in this area. The issue of the audit market was not a frequent subject of academic analyses in the Czech Republic, therefore the dissertation tries to fill this gap. The oligopolistic structure interferes audit in several risk areas. It threatens the independence of the auditor in the context of the simultaneous provision of audit and non-audit services. The existence of a high market concentration may also indicate negative impacts on the overall quality of the audits performed. The main contribution of the work lies in the analysis of the market concentration on the data of the Czech Republic. The dissertation as a whole analyses the Czech audit market between the years 2010-2015 and presents a view of academic research on market concentration in the Czech Republic. In terms of data source, the dissertation deals with areas of higher social importance, i.e. areas of public interest entities respectively listed companies, which is also typical for international research. Therefore, the conclusions of the dissertation cannot be generalized to the field of the audit market represented by companies that are not public interest entities. From the methodological point of view, the dissertation in its analytical part is based mainly on internationally recognized statistical methods for measuring market concentration, namely the concentration ratio and the Herfindahl-Hirschman index. The most important conclusion is the finding that there is a comparable level of market concentration in the Czech audit market with large audit markets. The analysis shows that Big 4 firms occupy approximately 85% of the audit market and this share remains unchanged between the years 2011-2014.
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Legal and ethical aspects of audit
Machuta, Václav ; Švarc, Zbyněk (advisor) ; Marková, Hana (referee)
This master thesis deals with legal and ethical aspects of financial audit. The aim of this thesis is to assess whether the financial audit fulfils its main goal in these days. This aim should be reached by answering questions emerged from author's research connected with the thesis theme. Except for technical literature and rules relevant for audit profession, the significant sources of information are interviews with auditors, consultants and academics. Another important information source is author's personal experience with working for the large audit firm. Considering the growing economical globalization, the thesis deals with questions of audit in the Czech Republic as well as contemporary regulation development on the European Union level. Furthermore, there will be an analysis of the fall of the international audit firm Arthur Andersen and some linked accounting scandals, too.
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Strengthening the Statutory Audit in the EU
Prokeš, Jiří ; Králíček, Vladimír (advisor) ; Jindřišková, Markéta (referee)
Práce zobrazuje proces posílení povinného auditu v EU v souvislosti s modernizací Osmé směrnice. Rozebírá zejména veřejný dohled nad auditem, nezávislost auditorů, rotaci auditorů, zprávy o průhlednosti, výbory pro audit, odpovědnost auditorů a další související témata. Dále práce nastiňuje možnou podobu implementace Osmé směrnice v ČR a pro srovnání také v Německu. V závěru je Osmá směrnice stručně srovnána s americkým zákonem Sarbanes-Oxley.
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