Effects of the 2014 European reform on audit activity, the audit outcome and the audit market: the auditors’ view

Purpose This paper aims to examine the effects of the 2014 European regulatory reform on auditors’ activity, the audit outcome and the audit market, with a focus on the Spanish market. Design/methodology/approach The research is based on in-depth, semistructured interviews with partners of the main...

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Detalhes bibliográficos
Autores: Castillo-Merino, David, Garcia-Blandon, Josep, Rodríguez-Pérez, Gonzalo
Formato: artículo
Fecha de publicación:2024
País:España
Recursos:Universitat Ramon Llull (URL)
Repositorio:DAU Arxiu Digital de la Universitat Ramon Llull
OAI Identifier:oai:dau.url.edu:20.500.14342/4937
Acesso em linha:http://hdl.handle.net/20.500.14342/4937
http://dx.doi.org/10.1108/MEDAR-07-2022-1746
Access Level:acceso abierto
Palavra-chave:Audit regulation
Audit quality
Auditors’ view
Effects of audit regulation
Audit market
65
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spelling Effects of the 2014 European reform on audit activity, the audit outcome and the audit market: the auditors’ viewCastillo-Merino, DavidGarcia-Blandon, JosepRodríguez-Pérez, GonzaloAudit regulationAudit qualityAuditors’ viewEffects of audit regulationAudit market65Purpose This paper aims to examine the effects of the 2014 European regulatory reform on auditors’ activity, the audit outcome and the audit market, with a focus on the Spanish market. Design/methodology/approach The research is based on in-depth, semistructured interviews with partners of the main audit firms operating in the Spanish market. This qualitative approach provides a precise identification of the cause-effect relationships of the new measures introduced by the European audit regulation. Findings The findings indicate that, based on auditors’ opinions, the costs of the main regulatory changes outweigh the benefits. The European Union (EU) Audit Regulation imposes more demanding provisions, such as an extended auditor’s report, mandatory audit firm rotation, more banned nonaudit services and stricter quality controls, resulting in substantial side effects on audit activity and the audit market. This could undermine the objective of enhancing the quality of audit services. Originality/value To the best of the authors’ knowledge, this is the first study to analyze the effect of the 2014 EU regulatory reform on audit activity, audit market and audit outcome based on auditors’ perceptions. The findings may be of interest to academics, professionals and regulators alike, as they offer valuable insights for assessing the effectiveness of the new audit provisions. Additionally, the qualitative methodology used facilitates a causal analysis of the key elements introduced by the regulations, potentially paving the way for future research avenues.info:eu-repo/semantics/publishedVersionEmeraldUniversitat Ramon Llull. IQS202520252024info:eu-repo/semantics/article32 p.application/pdfhttp://hdl.handle.net/20.500.14342/4937http://dx.doi.org/10.1108/MEDAR-07-2022-1746reponame:DAU Arxiu Digital de la Universitat Ramon Llullinstname:Universitat Ramon Llull (URL)InglésMeditari Accountancy Research. 2024;32(7):88-119© L'autor/aAttribution 4.0 Internationalhttp://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccessoai:dau.url.edu:20.500.14342/49372026-06-21T06:40:37Z
dc.title.none.fl_str_mv Effects of the 2014 European reform on audit activity, the audit outcome and the audit market: the auditors’ view
title Effects of the 2014 European reform on audit activity, the audit outcome and the audit market: the auditors’ view
spellingShingle Effects of the 2014 European reform on audit activity, the audit outcome and the audit market: the auditors’ view
Castillo-Merino, David
Audit regulation
Audit quality
Auditors’ view
Effects of audit regulation
Audit market
65
title_short Effects of the 2014 European reform on audit activity, the audit outcome and the audit market: the auditors’ view
title_full Effects of the 2014 European reform on audit activity, the audit outcome and the audit market: the auditors’ view
title_fullStr Effects of the 2014 European reform on audit activity, the audit outcome and the audit market: the auditors’ view
title_full_unstemmed Effects of the 2014 European reform on audit activity, the audit outcome and the audit market: the auditors’ view
title_sort Effects of the 2014 European reform on audit activity, the audit outcome and the audit market: the auditors’ view
dc.creator.none.fl_str_mv Castillo-Merino, David
Garcia-Blandon, Josep
Rodríguez-Pérez, Gonzalo
author Castillo-Merino, David
author_facet Castillo-Merino, David
Garcia-Blandon, Josep
Rodríguez-Pérez, Gonzalo
author_role author
author2 Garcia-Blandon, Josep
Rodríguez-Pérez, Gonzalo
author2_role author
author
dc.contributor.none.fl_str_mv Universitat Ramon Llull. IQS
dc.subject.none.fl_str_mv Audit regulation
Audit quality
Auditors’ view
Effects of audit regulation
Audit market
65
topic Audit regulation
Audit quality
Auditors’ view
Effects of audit regulation
Audit market
65
description Purpose This paper aims to examine the effects of the 2014 European regulatory reform on auditors’ activity, the audit outcome and the audit market, with a focus on the Spanish market. Design/methodology/approach The research is based on in-depth, semistructured interviews with partners of the main audit firms operating in the Spanish market. This qualitative approach provides a precise identification of the cause-effect relationships of the new measures introduced by the European audit regulation. Findings The findings indicate that, based on auditors’ opinions, the costs of the main regulatory changes outweigh the benefits. The European Union (EU) Audit Regulation imposes more demanding provisions, such as an extended auditor’s report, mandatory audit firm rotation, more banned nonaudit services and stricter quality controls, resulting in substantial side effects on audit activity and the audit market. This could undermine the objective of enhancing the quality of audit services. Originality/value To the best of the authors’ knowledge, this is the first study to analyze the effect of the 2014 EU regulatory reform on audit activity, audit market and audit outcome based on auditors’ perceptions. The findings may be of interest to academics, professionals and regulators alike, as they offer valuable insights for assessing the effectiveness of the new audit provisions. Additionally, the qualitative methodology used facilitates a causal analysis of the key elements introduced by the regulations, potentially paving the way for future research avenues.
publishDate 2024
dc.date.none.fl_str_mv 2024
2025
2025
dc.type.none.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv http://hdl.handle.net/20.500.14342/4937
http://dx.doi.org/10.1108/MEDAR-07-2022-1746
url http://hdl.handle.net/20.500.14342/4937
http://dx.doi.org/10.1108/MEDAR-07-2022-1746
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Meditari Accountancy Research. 2024;32(7):88-119
dc.rights.none.fl_str_mv © L'autor/a
Attribution 4.0 International
http://creativecommons.org/licenses/by/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv © L'autor/a
Attribution 4.0 International
http://creativecommons.org/licenses/by/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 32 p.
application/pdf
dc.publisher.none.fl_str_mv Emerald
publisher.none.fl_str_mv Emerald
dc.source.none.fl_str_mv reponame:DAU Arxiu Digital de la Universitat Ramon Llull
instname:Universitat Ramon Llull (URL)
instname_str Universitat Ramon Llull (URL)
reponame_str DAU Arxiu Digital de la Universitat Ramon Llull
collection DAU Arxiu Digital de la Universitat Ramon Llull
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.812429

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