In its issue of May 13, 2022, the Frankfurter Allgemeine Zeitung reports on a Düsseldorf Competition Economics (former DICE Consult) report on concentration in the auditing market, which was commissioned by the auditing company Mazars. The study concludes that the market for statutory audits of companies' financial statements suffers from high concentration. In Germany in particular, the four major auditors PWC, KPMG, EY and Deloitte dominate the business. "Functional deficits hinder competition, impair audit quality and endanger the stability of financial markets" warns our partner and author Prof. Dr. Justus Haucap.
FAZ reports on our expert opinion on the audit market