El riesgo de negocio de las pequeñas y medianas firmas de auditoría en Españagestión mediante esfuerzo y prima de riesgo

Zusammenfassung

ABSTRACT The aim of our thesis is to verify whether small and medium firms use the auditor effort and risk premiums as hedging instruments to audit risk and the business client risk (the two components of business risk). Our study analyzes a particular section of the audit market, the small and medium-sized audit firms, which traditionally has not been subjected to study, and where the likelihood of business and its management acquires with respect to differentiating nuances large multinational auditing firms. The study in this section of the market is important because, despite the smaller size of the auditors, there are several sources of economic losses that may face such sanctions regulatory bodies and loss of reputation, to which they are exposed small and medium audit firms. Then these firms must also support a significant level of business risk. Moreover, this market segment has a higher competitive intensity derived from as many suppliers as well as an apparent lack of barriers to entry. This poses a greater need to control costs in order to increase their ability to compete and may affect: the quality of service of these small firms by investing a lower level of resources required or the ability of the firm to maintain its activity in the market but covering business risk. In the first chapter delimit and define the concepts of business risk and the various risks that determine it. One of the sources of business risk is the audit risk, which is related to the diligence with which the auditor does his work leading to the management and coverage of it is related to planning (audit effort). Furthermore, we submit to study the business client risk and other determinants of business risk, which is caused by the difference in expectations between the user information and the auditor "expectations gap". In the second chapter we discuss the concept of audit risk and its relationship with business risk. The inherent risk, control risk and detection risk: In this chapter the audit risk model and the various factors that determine subjected to study. The results obtained is that auditors adjust their efforts risk profile and complexity of the audit allowing us to infer that the result of the work of small and medium auditors should be of similar quality offered in the market segment in operating the FMA. In the third chapter, it is to study the concept of risk as a key client business risk which can sometimes withstand auditor. The main feature of this risk is that clients are mainly produced by users of the information may have not quite accurate expectations about the objectives and responsibilities of the audit. Since the auditor has no control on these expectations, the only form available to the auditor, to meet this source of risk is to impose surcharges in the form of premiums for customers with a higher risk profile. We used as the dependent variable fees charged by auditors to their clients and various surrogates to infer the business client risk, as are the financial risk of the customer and possible situations existing conflict between auditor and auditee, experimental variables in our study. As a control variable has been used hours of the request. Our results show that pricing is rational by the auditors carrying on prices few cost factors have to face, which in short can lead us to infer that in this market segment is also perceived some differentiation and auditor companies do not change only by factors related to price.