FRC Research Project into firm entry, growth and exit from the Public Interest Entity (PIE) and non-PIE audit markets
News types:
Published: 7 September 2022
This project will generate insights into the PIE and non-PIE audit markets to help inform the FRC’s future work. It will enhance understanding of firm entry, growth and exit in the PIE and non-PIE audit markets. The research output will support the FRC in its objective to create a more resilient audit market through greater competition and choice.
Specific research objectives are as follows:
PIE audit market – to better understand the appetite of firms to enter, or expand their presence in, the PIE audit market. This includes examining any barriers that firms face in achieving this, and what action(s) may lower these barriers.
Non-PIE audit market – to better understand the economics of audit firms in the non-PIE audit market, as well as what has driven the decline in the number of such firms in recent years. The implications of the declining number of firms for choice, competition and audit quality will also be considered.
The project is being jointly carried out by Touchstone Renard and Frontier Economics working closely with the FRC. Touchstone Renard is carrying out fieldwork with a large number of firms during Autumn/Winter 2022, with some potential in-depth follow-ups in early 2023.
All information, views and opinions shared by firms, whether in questionnaire responses or in interviews, will be fully anonymised by Touchstone Renard in all reporting of the research findings.
For any queries, please contact Phil Austin at Touchstone Renard: [email protected]
Specific research objectives are as follows:
PIE audit market – to better understand the appetite of firms to enter, or expand their presence in, the PIE audit market. This includes examining any barriers that firms face in achieving this, and what action(s) may lower these barriers.
Non-PIE audit market – to better understand the economics of audit firms in the non-PIE audit market, as well as what has driven the decline in the number of such firms in recent years. The implications of the declining number of firms for choice, competition and audit quality will also be considered.
The project is being jointly carried out by Touchstone Renard and Frontier Economics working closely with the FRC. Touchstone Renard is carrying out fieldwork with a large number of firms during Autumn/Winter 2022, with some potential in-depth follow-ups in early 2023.
All information, views and opinions shared by firms, whether in questionnaire responses or in interviews, will be fully anonymised by Touchstone Renard in all reporting of the research findings.
For any queries, please contact Phil Austin at Touchstone Renard: [email protected]